There is an ignore button if you do not like what a poster has...

There is an ignore button if you do not like what a poster has to say. No need to post emotional attacks. Posters that feel the need to attack other forum members for posts that they disagree with should definitely use it!

Now let's use a bit of common sense instead of mindless emotional outbursts!

1. Richard has advised that the scoping study cannot provide costings because the starter zone does not have enough resources in the indicated category.
2. The only way to provide costings is to upgrade more of the resource to the indicated category.
3. To achieve this, the company needs to carry out closer spaced drilling during the Nth Qld 6-month drilling season which starts in May.
4. To carry out the drilling, the company needs to have sufficient funds.

Now it does not take a rocket scientist to determine that step 4 is the most important step and is a necessity to achieving steps 2 and 3. The fact that step 4 was not achieved earlier looks to have resulted in MMA losing two valuable months in the 2024 drilling season unlike their parent company RDM who have advised that they will be drilling in May.

Now, what is the potential cost of not being funded and booking drill rigs for May? We won't know until Feb 2025 when the resource update from the 2024 drill season will be released, but if it leads to insufficient indicated resources to update the 2024 scoping study with costings, then it will be a huge opportunity and potential massive rerating missed.

Richard is on record stating that his exploration manager is excited, has targets and ready to commence the 2024 drilling campaign, so the fact that no mention of the 2024 drilling campaign commencement date has to be solely due to the lack of funds.

On the good news front, MMA received $743K gst rebate in April so their war kitty should be $2.2M. That should be enough to start drilling now and work on the additional funds over the coming few months. I suspect that they are holding off on pulling the capex trigger until the scoping study is release which is due late May.

Now, as others have said, there is $2.5M worth of directors 25c options that are in the money but not due to be exercised until 2025. Directors could lead by example and exercise early, but I suspect some may not have a lazy half a million dollars laying idly around. Crescat Capital would be the more likely option to pursue to exercise their 2024 30c options early but they may need some added incentives.