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Hi azoicDalwallinu looks like a very large project. That...

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HappyPecker

186 Posts.

31

09/10/22

15:42

Post #: 64106299
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Originally posted by azoic: ↑

My estimate is that they had $2.2m a week ago but now they have bought Dalwallinu so less another $50k + fees.
They spend $7,000 per day. See it is expensive running an exploration company. At least now they seem to be doing things.
Don't know what they were doing the first half of the year though. I guess waiting for the ducks to line up.
Anyway drilling requires extra cash and we are likely to drill 4-6 holes even without finding anything much.
I read somewhere that the nova discovery was on hole 28 ...something like that.
If we do get mineralised zone(s) at Cosmos South it is unlikely to be of even thickness. So a lot of drilling will be required.
Also bear in mind the zone of interest is about 500 - 600m long.
Now we have the backup of Dalwallinu and they want to get stuck into it immediately. (Good idea)
All in all I feel that this capital raise is a good idea (though I don't know of the detail)
It is hedging your bet. Something called good management.
Sure it pees me off that I bought some shares at 16c but short term pain for a long term gain right?

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Hi azoic

Dalwallinu looks like a very large project. That impressive strike will require a lot dollars. 6km length with 12 priority targets.
As Matt mentions in the most recent Small Caps interview. Their looking at 12-24 months of work at Dalwallinu.
That won’t come cheap.
I’m happy if it’s a raise to get this project pumping. It looks a cracker.
DYOR

NKL Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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Hi azoicDalwallinu looks like a very large project. That...

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