very good comment!

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Cidkiddd94

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23/05/24

09:07

Post #: 73967850
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Originally posted by Jimbill: ↑

On the talk of a CR, I think it should be noted that their costs for current program are minimal so the funds they do have will go quite along way, plus they need to plan a drilling program so funds wont be required for some time.

The more important point is that the SP dropped down into the 6's, at this time management would have known about what deal they were negotiating and about to announce and with their cash position I would say more than 95% of ASX companies would have done a raise at this time, most likely in the 5's and guaranteed with options that would already be in the money. This raise would have been done to themselves and to their mates just like you see on a lot of brazil stocks lately however they chose not to, they chose not to raise at 6, or 12, or 18 - they had ample opportunities to raise over the last 3 weeks but have let the SP march on higher. This to me highlights quality management, it still exploration and has high risk but they news flow updates over twitter and the fact they haven't raised to date is a positive in my book.

Undiluted its just 47m SOI, if they were to raise now they wouldn't need much maybe $3m? That would be another 15mil so 62mil on issue plus options which is extremely low to be on the cusp of a potential major discovery.

I hope they release results then raise after that as will go into tighter hands and more spread. I would think that the vendor will be putting the best samples at the front of the line in the lab, hopefully its the samples from the tweet yesterday where the samples were in a historic mine

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very good comment!

SUM Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
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very good comment!

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very good comment!

Top Stories

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