My take from the AGM was that the board are going to pursue a significant capital raise to fund a drilling program to cover the prospective ground at Kharmagtai. The goal being to expand the resource rather than further define what already been discovered with more infill drilling funded piecemeal with ongoing small raises. Seems like a reasonable strategy to me, they believe the geology supports a much bigger resource and if they prove that with more drilling it will make XAM stand out from other exploration companies they are currently competing with. It's no secret that tier 1 copper discoveries are thin on the ground and with the copper price looking buoyant the big boys will be looking to acquire in the not so distant future.
XAM Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
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