$5.1m cash in hand would have been ideal rather than a project + 60% cash...
well, this is a copper project and I think it could be a good one as it is in the midst of some good working mines nearby...
of course, the sp is not going to shoot to 2c+++ on open tomorrow but with $3.1m cash on hand a MC of $7.8m - debt, we still are in the lowest of lows possible...
very limited downside here and a fair bit of up side - though not very immediate... but hey, we were in coma for years here, shouldn't matter if we are in this position for the next few months... at least there is some activity expected now and Cu is probably one of the most ignored commodity in this massive EV boom - everyone is focusing on Li, Co and what not - but one of the biggest ingredient is in fact Cu and I think we are best pursuing Cu than anything else...
Cu IS AN EVERGREEN COMMODITY IMO... the world will always need Cu, come hail or shine !
Ann: Surat Gas Settles and Investment in Copper Project, page-5
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