I can see that idea might be worth a run and was considering suggesting it, a low cost tenement or 3-4 to provide news flow, but realise that idea comes with two years of exploration expenses (Say $8-$10 mill on 3 tenements) and very low chance of success in finding a project fit to mine, and if they did get very lucky, that's another 7 years of development before a FID.
The reason I picked CNB as an example of something we could invest in, is that success is almost guaranteed so long as copper is in demand, as is short/medium term cash flow. No capex to spend, copper confirmed in the ground and just dig it up. Sure the gains are much less than an explorer striking it rich, but the certainty is so very much higher. $70 mill turns into $300 mill over 5-7 years with exploration upside if things work out
I think if RNU management swing to CNB they could drive a very good deal coming with $70 mill in cash - like say 1 option for every 5 shares at a good strike price compared to today's SP it as well as 50% of their project because any other finance deal they could possibly strike would be like that.
It's a very strong safety net IMO - and ITMT if we can finalise critical mineral loans etc we can go to a start up graphite mine and processor if needed.
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