So who thinks $2.4M will be enough to do the current drilling at Cox's and advance MonAmi to be OP mine ready?
Its a pipe dream and distraction IMO. I call Fake news.
Mon Ami has a few pockets of high grade oxide gold which may be exploitable, but only if they get an off take and the strip ratios work. There are hundreds of these small gold rich pockets all over the goldfields. What concerns me is that I doubt they will get an offtake without having a reserve that would deliver 3-5g dirt for 5 years at a rate to support the offtakers blend. To do this they need to spend significant money. Goldfields looked at it years ago and walked away while GSN went all in and spent hard; we might see this happen again. Look at MAT (Matsa) and see what I mean. its all out there. DYOR.
I'm a bit disappointed in why management took so long to do the raise and now only $2.4M (assumed). This means we will have the same SP pain in 4 months time. Look at what other gold explorers have done like BC8, raise a decent swag and get on with it. Management know when the money runs out so why are they so slow to react? Its a gold market. Remember, they still have to pay the vendor of Cox's Find his $900K (or around that) sometime in 2021. Its a drip feed approach which I think will hurt all us shareholders in the end, UNLESS they find the mother lode with a few more drill holes. I stand to be corrected and hope I'm wrong, otherwise it cold be a long 2021 and Adam A will be here to stay.
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