I think they're doing all the right things and clearly know what they're doing, very methodical from auger to RC and then diamond coring the tails of the RC holes, but the very low market cap actually becomes a problem when raising even a few millions for the next drill campaign results in a considerable percentage dilution (raising $2.5 M at $12.5 M market cap = 20%) - this really impedes progress, in particular if raising at big discounts to VWAP. Much easier for a bigger company to drill the metres to grow a resource if you have $10 million in the kitty. A few spectacular drill hits of around 100 gram metres would be nice... say 20 metres at 5 g/t
or some good manganese grades at decent thickness.
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13 | 4052357 | 0.007 |
3 | 899950 | 0.006 |
4 | 1599990 | 0.005 |
2 | 2600000 | 0.004 |
Price($) | Vol. | No. |
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0.010 | 1750004 | 7 |
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