I'm not entirely convinced that the timing is right for a capital raise and I firmly believe that the options would be converted and we could be raising at higher prices as results from Dynasty and Linderos assays filter through.
Having said that, I put a lot of faith in the experienced management team here and I think they will succeed either way. Lets wait and see the reasoning for the cap raise and what the focus will be for the proceeds.
We don't have to spend on Linderos at this stage so it's all to accelerate Dynasty resource upgrade and possibly to start probing our other copper assets. I wonder if it will be a quick raise to sophs or if this will be offered to retail and the price will be interesting.
I have been noticing some large single trades recently at 41c while we were trading at around 45c. Some big player seems to be building a position.
I am actually quite excited by what Linderos drilling might show. I know a couple of former Titan geologists always commenting on LinkedIn about how great an asset Linderos will be. We are free carried most of the way there so I am hopeful results will start seeing some value for Linderos added to our market cap.
As for Dynasty, less than half has been explored and I have heard the company talk about a 5 million Oz JORC Resource there as well. Traditionally the value given to the gold in the ground is around US$70/Oz. Even with our current 3m Oz JORC Resource, we should be valued at over $300m. This is the same with many explorers right now.
Anyway, the ultimate aim of the explorer is the takeover and I feel we will be on the radar of many of the majors in the next 18 months.
TTM Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
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