"the cash burn is strong right now" -- not from drilling. The drilling is being done cash-free in an equity-for-service deal.
"Now we wait for details" -- yes, absolutely. My main interest is "what for?"
Given that the drilling is basically cash-free we have plenty in the kitty to cover us to the end of the drilling programme and at least publication of the final grades. Even if the funds wouldn't cover the full JORC maiden resource report there would be every reason to wait until after the drilling results were all out there and do the raise with a stronger share price.
I believe this raising will be to cover something outside the existing plan.
My guess is that it will be an opportunity to enhance our current exploration target. I have often thought how charming it would be to extend our exploration target to the Northeast beyond Guitorga Hill. Perhaps an opportunity has been created there. Perhaps somewhere else.
"the cash burn is strong right now" -- not from drilling. The...
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Last
1.1¢ |
Change
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Mkt cap ! $9.704M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.2¢ | 1.1¢ | $12.98K | 1.122M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 2 | 5496000 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 1.2¢ | 48731 | 1 |
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| Last trade - 14.17pm 19/04/2024 (20 minute delay) ? |
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1.2¢ |
Change
0.001 ( 9.09 %) |
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| Open | High | Low | Volume | ||
| 1.2¢ | 1.2¢ | 1.2¢ | 1241612 | ||
| Last updated 14.07pm 19/04/2024 ? | |||||
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