patersons

Things are going a bit over the top here.

Patersons have provided (via their clients), $1 million dollars to drill.

Sure, the cost to the company was a hit to the share price but the director's have deemed it worthwhile for the potential upside if the drill results are good.

What was the alternative? A rights issue would have taken 2 months with at least the same negative impact on the share price and uncertainty as to whether any cash could be raised.

Thanks to Patersons, we'll soon have a better idea of how much gold is there.