A small cap exploration company will need to derive value from...

A small cap exploration company will need to derive value from its primary exploration asset in the next 12-24 months or it will be "cooked".

That statement must apply to 300+ exploration companies on this forum, most of which have less than $5m in the bank. In other news, the Pope is Catholic.

- The voluntary share sale parcel was put away at 15c despite being conducted through the worst of Australia's Covid-19 markets. Register now more manageable.
- 50% of the recent rights issue raised from existing holders in a short two week offer period.
- Shortfall placement underway, Ansteel expected to be down from 36% to ~21%, Ansteel's nominee directors are not paid board fees.
- Strong broker support and large board holding bodes well for future plans.
- Drill ready 7-10km copper exploration corridor partly backed by previous drilling and fully backed by geophysics 15km from Oak Dam West in South Australia, one of the few places that can be easily accessed during the Covid-19 pandemic.
- Multiple additional drill targets including IOCG in elephant country.

Far from "cooked" at this point but some tasty ingredients are on the bench-top...