Spiney correct, nowhere near enough money for drill. They have 3 x 1/4’s left, $5mil blown in admin and REM before next drill. Leaves only $15 mil at best after CR.
FO has to be found ASAP, confident one will come it will cost us heaps.
If not then imagine another CR prior to drilling in 2023. Company can do 15% and another 10% in special situations a year. That’s a total of 4 billion shares say 0.009 = $36 mil, can’t see this amount ever raised after their history, if they did would give 20 billion shares, plus all the shares issued as payments will be hundreds of millions also added. Unlikely but possible.
But only raising say $10 mil atm = another 1.1 billion shares.
Ann: Trading Halt, page-25
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