Small ball number or not, If they turn it into a mine, they will be miles ahead of hundreds of small Co's with larger resources. Large capex projects aren't getting funded these days. A small resource bringing in cash is a lot better than the position many others find themselves in, with reasonable resources and soon to going out of business businesses due to the projects being non-viable and unfundable.
I am wondering if they might have an asset sale or two lined up, as it is strange for them to be picking up new tenements in the current market.
Looks to me like they plan to use income from
Bologo to drill off 1 million low risk ounces from the new tenements, which they seem confident of being able do.
GMR Price at posting:
6.4¢ Sentiment: None Disclosure: Held
