Getting a bit impatient I was, so I got Fabian on the phone today and spoke at length. Very gracious of his time and great to chat to him. Very honest and open discussion. Multiple Majors have been in contact and reached out to the co and are very interested in Rana. He is super bullish on Rana and I'm not surprised as majors have analysed the data and considering the back drop for nickle, they like what they see. News is all very close on this. Days away.
Drilling starts in July with geo mapping and drill target definition POW's underway as of this week. They are going to spend $5million of drilling this year. Once they start the rods will spin into next year. 5000m is the initial program.
Cash holdings at 75% invested is $25m AUD at 4.5%pa. Just over 1$m in interest earned is the current investment pa. That should cancel out most of the yearly salaries management are on.
They all so have strategic investors ready to come onboard for which they are have preferred to not indulge until they make more progress with Rana. Could be a quick TO if the balls rolls fast there.
Pennikat still a slow burn unfortunately awaiting another bird study to finalise submissions. After that approvals could take 6-8months. The Finnish government has assured the co they will get their licence for Pennikat just a matter of when. New mining law to come in affect in June for Finnish projects could see that KRM could drill despite any opposition to their project plans which de-risks oppositions. From what I know all oppositions are generally overturned anyway.
I wasn't excited about the news for Pennikat. It confirmed my suspicions that we could be waiting longer for those drill permits. But it was eased by the new mining law. And that if granted we would be drilling Pennikat by Feb 2024.
IMO the market is very very very asleep to what could be a company maker in an of itself in Rana. If by then we are full steam ahead at Rana and things are looking good and we get approvals for Pennikat. Well... goodnight Irene. The rest as they say will be history.
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