I have read the quarterly reports and disagree with you.
The company is deliberately spending most of the available cash resources on Narraburra because that is the chosen project that can result in value for shareholders with the least possible cost and timeframe, its that simple.
What exactly do you expect, Do you want a shotgun approach with drilling and spending on all 3 major projects, diluting the cash reserves and forcing repeated capital raisings and massive dilution.
Mate: they are trying to bring one of the projects online and see Narraburra as that project. I actually agree.
The notion of getting one project to fund another is very appealing to me, At the moment Godolphin is a small junior and we should not forget that.
The JORC will be out shortly, at that point you can determine the viability of Narraburra, headline drill hits are not indicative of aggregate grades, neither are low grade hits.
Aggregate RE grades are viable, even highly profitable when free digging ore and low processing costs are prevalent, we are told this is the case for Narraburra.
Resource size does matter and we await that detail.
The latest announcement TODAY noted that we are in talks with a company for offtake for our Rare Earths, that is great news as it brings on a level of urgency and expectation.
If what is going on is so unpalatable to you, you have choices.
RED
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Mkt cap ! $4.039M |
Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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