I think the main issue is they are raising $2 million through a placement/CN issue to only end up spending $150,000 of that on actually doing anything on the proposed acquisitions, the majority is for paying down debt and working capital which is suspect was the actual catalyst for the placement.
When you look at the break down of that $150,000, they are proposing $75,000 to be spent on drilling in "3-6 months time" but of course that is subject to grant of EL's and successful negotiation with the farm owner who they are yet to engage with. I personally don't see engagement with off-take partners with the remaining $5000 getting far when they will be lucky to have an inferred JORC resource based on the amount of drilling they have proposed and they haven't attributed any funds to metallurgical test work.
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