Following up on my previous post, after reading the quarterly...

Following up on my previous post, after reading the quarterly report I'd like to correct my earlier thoughts on the FBM payment cycles. It seems that the final $125k tranche was paid within the reported quarter. I'm also not to concerned right now about the 0.9 quarter number as its just maths based on last quarter expenditure and current cash... it doesnt take into account that a company may have had a huge capex/opex last quarter but has lower capex/opex requirements for the next quarter(s)...

I also reached out to Ed (great guy btw), and from our brief conversation, I've understood that the team is committed to following a frugal exploration approach (defiantly my terminology). This means a thorough evaluation of both existing and upcoming data from the last sampling, further infill geo-sampling to get a more comprehensive understanding of the tenement. Consequently, it appears that a significant amount of data assessment will be made to evaluate the best positioning before launching the next drilling campaign.

Considering all these factors, it seems that large-scale exploration expenditure might not be immediately necessary. This approach appears prudent as it allows time for FBM to finalize the Nevada resource estimation and hopefully advance the KH drilling and resource estimation where the northern area of big red will be key imo. Both developments could positively impact the FBS share price. Additionally, the potential extra 25 million shares could provide a significant exploration capital boost if FBM identifies the 10MT at KH...

The way I see it, there is still some time before the team is ready to target new drilling sites and there are defiantly very interesting capital options available down the track.

Given this strategy and the potential of Earaheedy, I'm adjusting my sentiment from hold to buy. I remain optimistic based on the team's approach and region... I am looking forward to an exciting year ahead.