Well, don't wait too long Fbx. Looking at the screen, though there's a minor skirmish around 14-15c, this looks to be generally tightening up again.
The Company will be back on the ground very soon pursuing those T1 and T2 lode targets (June tomorrow) at Merton's, and is promising strong news flow from here.
I liked the specificity given to "use of funds" and the clear road map for the way ahead. From yesterday's Announcement:
The funds secured by the capital raising will be used to advance and progress the Company’s projects including:
- Complete phase 2 drilling at Merton’s Reward T1 and T2 lode targets to further confirm the correlation of the new geological model with the objectives being to increase the resource base at Merton’s Reward;
- Prepare a revised resource calculation based upon the new geological model incorporating all the current and proposed drilling scheduled in early June;
- Complete a strategic plan to implement operational improvements with the objective to fast track the scheduling of the Feasibility Study once the revised resource modeling has been completed; and
- Begin the Mining of the Lewis Prospect East Pit to extract 15,000t of ore for leaching and test the results of this process.
The Company looks forward to updating shareholders in the coming weeks on:
- The Strategy in relation to the phase 2 drilling program;
- Operational improvements within the Company to fast track the scheduling of the feasibility study;
- The development of the Mining and leaching process at Lewis; and
- Progress on the Company’s other projects.
(The last point presumably referring to Gwalia South.)
