So, from this and the few posts after, what it comes down to at this point in time is project risk. If we can't get large investors onboard until after PFS / DFS stages then best we can hope for in the short term is a liquidity pump that would at least allow us to raise some cash at a reasonable level.
It seems clear to me that we will need another $15-$20 million to carry out last rounds of drilling for DFS, (as far as I can tell the DFS requires reserves?) so there is going to be quite a bit more dilution no matter what way you look at it.
From my point of view, there is a reasonable chance that this could go sideways for 18-24 months with dilution. If that's not factored into expectations then there will be a lot of unhappy investors around.
Best case scenario is sector sentiment turns ASAP and we start to trade closer to a fair value based on the PFS numbers in early 2025.
General Chat, page-7281
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Last
19.8¢ |
Change
-0.023(10.2%) |
Mkt cap ! $40.86M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 21.0¢ | 18.5¢ | $31.97K | 168.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7000 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 95 | 1 |
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| Last trade - 13.15pm 11/07/2024 (20 minute delay) ? |
| NVA (ASX) Chart |