2 mil cash on hand, cheap director fees 16k for the 1/4 Hantails...

2 mil cash on hand, cheap director fees 16k for the 1/4
Hantails looks like a shit show as no material information released ie, assays from sonic drills so looks like a dud to me.
Drilling at Forio complete and Tollu, some nice grades but vein hosted so a bit choppy. approx 1300M drilled to date? of 5000m program.
Musgrave is hard country and this property is in the middle of B F nowhere, so hard to get a drill rig and crew plus support equipment out there to operate, fuel supplies etc water supplies make it an unattractive proposition for a small drill company.
MC of approx 6mil at .009 and an EV of 4mil makes this a good trade in the right market conditions, but rightnow with the lack of drilling momentum and not much heart shown by management to progress + lack of transperancy on Hantails i see this potentially going lower to .006-.008c in current market

all in my opinion of coarse. will wait and see before adding below 1c

I expect to see management have a crack and arrange for 2 x drill rigs and crews to get their asses out there and swiss cheese the joint if its taken 12 months to secure 1 rig then why not go all in and double or nothing?

GLAH