Having watched the presentation, a CR is on the horizon according to Chris, but he wasn't forthcoming on timeframe or $$. Obviously for holders the longer that can be put off, the more ozs can be proved up, the higher the MC and less dilution.
I don't think debt funding is realistic pre- PEA.
I'm not sure how much next year's drill programme will cost, but I suspect they will want funds in place before drilling Cathedral and RPM in the northern spring. My best guess is global resource released sometime in Feb for Korbel Main followed swiftly by a CR for around A$20m to $30m, issuing 100mish new shares to see them through 2021.Hopefully some sort of rights issue to loyal holders.
All IMO
UTV
Virtual Presentation Fri 23 October 5.30am, page-35
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