yep DDD, its tough at the bottom and unfortunately that is our lot currently. We have found multiple veins that are probably all commercial, but none that are ready to commercialise.
Your point has some validity and as a tiny entity, all our prospective funds could get gobbled up by overhead if they wait too long. Looking back, you would say that trenching period was a complete waste of money, in that it did nothing to facilitate development to the next stage of the cycle. All it did was pay dir fees and wages.
But Duffy knows what needs to get done now and presumably has a budget to complete a MRE and move along quickly with a MRE for Limon at least. It will take thousands of metres of drilling to finally size all our reserves.
Hopefully this is the darkest night, but if the raising goes well, we will still wake up with a big hangover; SP down another 40% to 0.5c and facing tipping in another wad to avoid dilution.
I did dump a few after the last drill results, but still this looks like the biggest investment disaster of my life.
good luck
wazz
STM Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
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