Hi Siindeed, my exact concerns mate. I keep on harping on about...

Hi Si

indeed, my exact concerns mate. I keep on harping on about them raising more capital to get on with the job. the small amount of capital they raised keeps the lights on and helps them get through the PEA.

but no investor takes a company seriously that carry's low cash levels. if so, everyone is looking for the next capital raise and thinks that the share price will just fall and they will come back to the market soon for a top up

that said, agree with your comments about raising a little bit and trying to wait for improved liquidity conditions and a higher gold price. i see why they did that but they could have raised more money at a higher share price earlier in the year, instead of waiting. nevertheless , it seems like management are banking on this PEA study getting more attention from the market and moving the share price higher, then raise capital at higher prices.

that's possible.

this company is so undervalued. that's why I suggest management look at Sprott or Rick rule to underwrite and get their clients on board.

my concern is, what happens if the PEA doesn't move the share price higher? will management raise another $2M to get them through to better market conditions? if so, that's wasted time when they could do a bigger capital raise after the PEA and keep advancing the project, and attract more shareholders in the process. shareholders like companies that are actually doing work, rather than being just another penny stock that raises money to pay management and Admin costs.

look, I have taken a position because this is a cheap Goldie and I like the story - always have. but my concerns are real. my hope is that they raise a lot more capital to advance the project after the PEA has been released (there's buggar all shares on issue). punters are attracted to companies that are doing things and don't look like they will have to go back to the market any time soon.

yes. I'm an investor and like the story but I'm certainly not going to sit around if they do nothing. this company has ssooo much potential and I want to see it realised, like many other shareholders