A big part of the reason we are here is because of the raise at...

A big part of the reason we are here is because of the raise at $0.11c with a ~20% discount and 30 day VWAP.

The previous raise was with at 10% discount and 10 day VWAP.

I hated the way that raise went down, I was very vocal about it and I decided to sell.

The company is still going to need to raise at some point, and unless the resource upgrade come back with 7m oz at M&I and another 10m inferred, I can't see any other reason for the market to get excited in the near term. Even then it is so isolated and lacking in infrastructure, that it might not do anything for the share price. You can't bring everything in via EVTOL.

The same applies to Snow Lake. They have a few years at least before the company starts to make any money, which it is why it is adding no value to NVA.

And with NVA being the largest holder in Snow Lake, if they need to raise in the future, the company will either need to pony up money or get diluted.

Given my rough calculations, the company has between 4 and 6 months cash at hand.

I don't know what the cash burn has been, but I can't imagine it is going down.

Did that 5th rig ever arrive?

I find it disgusting the management can get the assays completed in time for their performance bonuses, but drag their heels on the resource upgrade for where the focus has been.

The good thing is the company now has relatively low shares on issue, but despite that, first pour is at least 4 years away based on what Chris has advised the market, and there is a whole heap of risk between now and then.

Despite my temptations to buy back in at this price, I am choosing to sit on the sidelines.

I hope for all holders that I am wrong and the SP goes up, but there is a lot more money to be raised and spent before the company makes any money.