Hello. They need an Indicated JORC to do at least a Scoping Study. I doubt unsubstantiated "established that have mineral continuity at the wider spacings" qualifies for an Indicated JORC.
PTR cannot keep having setbacks, such as this 22 cent capital raising, due to negligence & over-confidence. If PTR drill more, they could have possibly raised at 38 cents.
There are at least three companies I know that had to withdraw their Scoping Study due to not having an Indicated JORC. Some company directors actually do not know the rules.
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