SPQ Chart, page-1853

Unlike a couple of years ago, it doesn't sound like anyone is buying in to spq because of Steam Engine anymore. I dont know but I don't think trying to extend the resource at Steam Engine with more drilling is really going to move the sp. When the company has so many other tier 1 targets to drill that everyone is anticipating, I don't think diverting more funds to drill Steam Engine to be the most efficient use of funds. At this stage of the company's development every hole should be prioritised on its potential impact to the sp.

We know there is enough there already to start mining. I reckon we either need to start mining/tolling it to generate some cashflow, sell it or mothball it until we rerate. If we think it has too much unrealised value to sell now then we come to a royalties agreement. We then get instant cash from the sale to go towards drilling, plus long term cashflow from gold royalties.

Like someone mentioned yesterday its more of a concern vs a good thing when a junior has too much going on. They usually spread there tiny budget too thinly over multiple projects without making significant progress on any of them in reasonable time. After reading your to-do-list I reckon we now have too much to do and raising the funds to see acceptable progress across all of them will dilute us to nothing.