I don't think saying waste of 35 million is true statement.
- Firstly 10 million of that went to starlight 6.037% holding which is positive for any JV with major player or offtake agreement negotiation when they have 100% ownership - A big portion of that money went to expensive drilling campaign and resource upgrade which was needed irrespective of what tonnage BFS they wanted to work with. The good point is that now they have 250 million tones in indicated and measured category which is more than enough for 10mt X 20 years LOM. The latest resource upgrade was highlighting more drilling needed for 20 mt which meant more money needed and we knew about it. That can be eliminated now. - lots of other studies and investigations which I believe should be the same for any BFS for example surveying.
BTW they raised 35 million with another 7 million recently through painful LDA deal (personally not fan of it) and we need quarterly to find out how much of that 42 million spent till now.
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