Figured this was coming ! Maybe a bit early as we still had a lot of legs in us to get to MTM, CGR etc market caps. However, west arunta drilling is incredibly close and at this point it’s only funded for the 2 x 500m diamond holes. Why not raise more and keep the drill rigs around longer, expand the drilling program and test more targets. This will ensure a greater likelihood of a potential discovery. I don’t think it will be a negative for the share price since the market will now factor in more drilling and newsflow and we are a lot closer to drilling than the peers I spoke of. Management were likely approached by an institution, and a non discounted price wouldn’t surprise me since this region is so hot right now.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)