Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-44

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Sunrayta

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01/02/24

09:12

Post #: 72176611
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Originally posted by EricFarrugia: ↑

Rana acquisition, Rana geophysics, drilling at Rana, funding geos for boots on ground work, funding for permitting

Also, Rana shouldnt be written off. We've only had a handful of holes, there will be more to come in the future. Market expects to hit big immediately, things take time

Penikat, it's not a matter of if, it's a matter of when. All I care about as an investor is our flagship project, and having sufficient cash on hand by the time we can drill. High grade known consistant mineralisation of PGE metals, right next to a port, the strategic incentives due to geopolitics and supply in South Africa. Yes theres the social risks however there are incentives that can get permitting to succeed, even if that is December next year. Let's trust that our management team will not recklessly dilute Penikat, it's not in anybodys best interest if this occurs

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let's remember that there has been close to 40000m drilled across the Rana and Ranbogan areas historically . The geophysics was not compelling at all. The results showed small pockets of and areas of resitivity and plates. Nickle is cooked and Rana now IMO leans more to a Tax write off and liability more than a potential discovery.

Pennikat has potential. But I think the company is still being optimistic about the timelines. Any objections could see litigations go past Dec 2025 that's realistic. And it could end up being rolled back. Ok so thevve submitted 450 drill pads. Let's see if they can get 4500m drilled there in 5 years?

Yeah I'm steamy and I have good reason to be.

KRM Price at posting: 3.3¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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