"realisation of funding short fall at March board meeting (3 year mine plan)"
This is inaccurate listen again please...
Your comment is a bit out of context mate - should read something like this "to achieve their (exciting - quote DT) [10 year] mine plan they were facing a funding shortfall" "Could have kept going as we are - raised significant funds from our organic position" - is vastly different to what you said. Lets clarify this for those who miss the difference.
They are banking money now, cash costs still high and falling a little, development expenditure almost eliminated for now - but not enough to do justice to their plans so money needed for expansion / delivery of 10 Yr LOM.
Somme - this is where people get me wrong I am not in here to state that or predict a time frame. I look at facts and potential, risk assessment etc and rarely give price direction. I certainly did give it at 3.1c and 7.9c on ABU at one stage too when it was about to fall.
Market conditions dictate price as a general statement. You saw good miners driven to stupid lows over the past 20 months only to turn up savagely over the past 2. I will tell you that I called that low and turn perfectly and have profited immensely.
I can predict a find at Lake Cowan and 'probably' a JORC within 12 months (inferred) if this goes ahead. I will also predict Nepean will be proven to be a large sulphide Ni system with 4 additional flow events proven along strike - a total of 5 in the next 12 months if this goes ahead. Dreadnought will be much bigger and richer than investors think. We are also likely to see a much more positive tone in here on this deal - I am confident on that and maybe we even see a better offer short term, all possible.
I need to do more research but happy enough to add today and work on more detail over the next week. I waited today for the market to settle before I bought. I cannot be too careful of my legal position so I am diligent in this regard.
Cheers, CW DYOR&DD
FML Price at posting:
4.3¢ Sentiment: LT Buy Disclosure: Held
