$10m as of December. They did a CR last year with $7m in the bank. With our 35% of Citadel to fund, and further deep drilling and greenfield exploration at Minyari, I’d say a CR is nailed on. And although it’s probably not an option on the cards, I’d still love to see what Rio would pay for our 35% of Citadel, fully fund Minyari towards production. The last CR was at 0.042, I don’t fancy another 500m shares hitting the market, at a time with even fantastic Minyari results, the price has really struggled to get going.
you need money to explore and create value but all of this fill your boots, when will the catalyst come ?minyari will be upgraded. The ground here is outstanding. There will be drilling at depth, and I’d imagine further greenfield exploration. Lots to think about. Btw if your reading this thinking I’m on a downer I do apologise. I’m now below my 4.6C average and any kind of drop from here il be adding quite considerably, I want as low as an average as practically possible here, and long term I remain extremely bullish. But it does get you thinking. Hopefully the dhem survey picked up some juicy targets at depth.
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