Pooslice ...... I don't normally respond to negative carping....

Pooslice ...... I don't normally respond to negative carping. However you do not seem to understand the nature of the options so I will try and explain it to you. As some have said exploration companies always need funds to explore. If you are an explorer that is a given If you don't explore you may reduce expenditure but you don't give yourself a chance of finding anything of value! Until you become a producer, with an operating mine generating revenue, there is only one way to secure the funds needed for ongoing exploration and that is to raise funds. That is done largely through a specific capital raise or the use of options which have a future expiry date and strike price and which, if the shares are north of the option strike price,are often exercised bringing further funds into the company.

The company strategically set up its suite of options in the last two capital raises with the express hope / purpose that, if exploration was successful and the share price appreciated, all options (each with different strike dates and prices) would all be in the money and exercised, thus bringing further cash into the coffers (to continue to fund exploration) and negating the need for specific capital raises. It is a smart strategy and is clearly working with a significant proportion of the July 2021 options already having been converted. The plan/expectation is that with further exploration success, and a share price increase, the future options will also achieve the same outcome.

So please, stop with the "sky is falling" comments about the company needing to do another CR shortly. It is utter rubbish. The current funds, as shown in the latest quarterly and mentioned in today's' ASX release, show that the company is in a very strong financial position - one that would be the envy of most juniors. Combine that with the multiple tier 1 targets, both in Peru and here in Australia, and you can expect to see continuous exploration activity for some time to come.