This is just my personal view and I appreciate others do not share the same view…so fair warning.
First publicly visible use of raised capital, and it sends the wrong message imo.
Even limited access delegate tickets are $2210 pp, so with accommodation at a premium in Kal you likely wouldn’t be getting much change from $3.5-4k per person and possibly more when you add travel and meals etc.
So, for 9 people its entirely conceivable the exercise may be costing in the order of $20 to $30k….and possibly more than that. Or to put it another way… ~0.8% of the raised capital, just like that.
Alternatively, it could be a few lines of AC drilling, a couple of hundred meters of RC drilling, or ~800 photon assays etc
Now irrespective of the total number (I don't know what it is), it’s the situational optics and the message it sends that I take issue with. Financial discipline is paramount…irrespective of company size, spend every cent as if its your own (and yes, some of those cents are their own).
Just to be clear, I accept that sending one or two key people is worthwhile, absolutely! By key, I mean persons who are able to engage in, and discuss potential partnerships or project vend. But this comes across excessive, it’s the type of conference attendance one might expect to see by a company post-discovery, i.e. celebration and recognition of success.
Just to be fair (in case I've the wrong end of the stick), maybe they got a cheap deal, or are rolling the swags out on the main street etc. If so then fine…say that, or at least add some context to social media posts. Otherwise people are open to interpret in a variety of ways...especially on the day that a raising is announced.
To me, at worst its an indication of a company that has potentially lost course, or at least is lacking situational awareness to provide confidence in the task at hand, which is a worry.
ps I saw the suggestions on a previous post to forward the questions to DT, and for what its worth I will do so at the next available shareholder webinar.
Anyway, GLAH
(20min delay)