Thanks tricky for the link to this article. It was worth reading this one, an unbiased report, as opposed to others that have been dictated by releases from the company.
You get a sense of the company taking on the challenge to reverse the perception that EXM haven't been up to the task of taking the project to production stage.
Interestingly, regarding the forthcoming cap raising, from the article:
"While exact numbers are seemingly still very much up in the air, Lagdon confirmed about 20,000m of drilling and in the order of $A10 million would likely be needed for Excalibur’s work plans over the next 12-18 months or so.
Excalibur had $A2 million in the bank at the start of the June quarter, and was currently “resolving” the question of raising additional funds. Asked whether a typical equity raising could be anticipated, Lagdon responded: “I think that will be the case.”
Looking forward to seeing what this cap raising entails, and how much of the $10 million they intend to raise at this stage. But if TL is being quoted correctly it doesn't sound like a major is coming on board this time.
DSE Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
