When I was looking at CIT I had assumed it would be a whole lot smaller footprint because I thought they would stop at the creek. 44 was certainly a bit of an eye opener at RAS because other side of the creek looks pretty interesting! VG in 2 holes at CIT as well. Looks like that may trend the same way as RAS. Makes Shrek look interesting as well.
Think the response has been very muted. I know they will need to have a small cr at some stage of the game, they are pretty good with their funds but probably would like enough for next year, 7.5m-10m would probably do nicely, should be plenty to work out what they are sitting on. Get the impression they think the sp should be multiples higher than where it is so are unlikely to do anything until some of that is realised. Suspect the price capper yesterday may have been unnamed broker who participated in the last raise and would like to pick up some cheapies. They must just about be out by now, thought they only had 1m-2m left a few weeks ago so hopefully now they are gone....for good.
Resource upgrade by the end of the quarter. Multiple footprints open in most directions. Plenty of blue sky here IMO
SMI Price at posting:
81.5¢ Sentiment: Buy Disclosure: Held
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