Small market cap $6M, SOI ~ 200M. Cash in hand after two rounds of CRs ~$1.4M.
A long established giant of the days long gone, however Cullen have great selection of promising tenements for Gold and Copper exploration within Tuckabianna Gold Trend and is surrounded by well documented operators around their tenement. Drilling program is starting this September.
Barlee Project presents interest as well, within 10-55km of Penny West Gold deposit, drilling program is starting this September.
The company also hold royalty right over development of various tenements and is able to leverage cash through those agreements which on its own can be valuated well above its MC.
Recently there have been a lot of director purchase activity and it seems that the management is capable and are driven to deliver.
