Good point @Profitseeker. Perhaps we can fund a starter mine...

Good point @Profitseeker. Perhaps we can fund a starter mine with just an open pit and hence minimal dilution. The resource size does not suggest this is possible i think. Also POD announcements suggest UG will be required. And yes, it certainly isn't in the interest of shareholders to dilute their shares but is often required to progress a mining project.

Feasibility studies take 1 year to produce at minimum. And more likely 2. I think its reasonable to assume that a POD DFS is due for completion in about 4 years. To drill out the resource and complete the studies, more money will be raised. If the SP stagnates or falls than dilution is guaranteed with the CR. Which normal for a project in the "orphan phase".

I bought in at $0.5 btw. So i certainly see value and profit to be made at that price and even more certainly at current price of $0.32.