Amigos, we don't need a complicated chart to tell us what has...

Amigos, we don't need a complicated chart to tell us what has been happening to GRL's shareprice (see Hot Copper's GRL chart below). The most recent small "spike" in the shareprice occurred a couple of months ago when the earn-in agreement for Narraburra was announced. But that was short-lived. So what is next? Last quarter the expenditure was $879,000 which included $344,000 for drilling at Gundagai and at the end of that quarter there was $2,386,000 left in the piggy bank. In the current quarter the expenditure on the drilling at Yeoval will probably be similar to that at Gundagai. But add to that, the company said "an initial 4,000m drill program comprising 80 air coreholes will commence in late April 2022 ". If it is carried out in this quarter (which I have some doubts about), it will cost at least $200,000 for that program. So total expenditure for this quarter could be around $1,000,000. That will leave, at a guess, about $1,300,000 in the piggy bank at the end of June. According to previous announcements, GRL anticipates getting the assays for Gundagai in June and Yeoval's assays in early Q3 (maybe July) and who knows when for the Narraburra drilling. And we know it is now too late for the offer of shares at 20c to raise money from longterm holders - the offer ends in a couple of weeks from memory. All in all, it means that we have plenty riding on the announcements of assays for the two completed drilling programs at Gundagai and Yeoval because soon the piggy bank will hit a level that alarms the accountants. I'm confident that the visuals of Yeoval's cores were totally under-estimated by the market, so I hope for an announcement of spectacular assays.