Use of Funds. The Company advises that funds raised from the Offer will be used to: •Follow-up trenching at the Big Red Gold Project, Queensland; •Sampling and geophysics over iron ore and hard rock lithium projects in the Pilbara, and general exploration; and • The costs of the Offer and to provide additional working capital.
So, QLD Gold is finally getting a look in: 12 - 18 months late but at least they may now be getting serious - I would prefer drilling rather than trenching being the order of the day as lots of trenching has already been done!!
I don't like the use of the words "general exploration" as that smacks of a catch all, lack of focus approach - the "Steve" approach is hanging around & that's bad
Trouble is we will now have to wait another 6 months before anything of substance materialises (assays etc)
QXR Price at posting:
0.6¢ Sentiment: None Disclosure: Held
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