"Now that the company is cashed up of around 400 million dollars to spend for further resource upgrades and further discoveries there is a big period ahead"
Why do so many assume that just because a company sets an exploration budget and starts poking arounding kicking rocks, that it's automatically going to yield wonderful new resource?
While there's a possibility that we've yet to find the 'motherload', there's surely an equal possibilty that we'll continue to find meagre satellite deposits or those with other traits making them uneconical to mine?
I remember reading here some time ago that $x dollars of exploration spend converts to yMT of resource, but that sounds like casino odds to me ....
"Now that the company is cashed up of around 400 million dollars...
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14.0¢ |
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Mkt cap ! $299.1M | |||
| Open | High | Low | Value | Volume |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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| Last updated 15.59pm 03/05/2024 ? | |||||
| CXO (ASX) Chart |