WR1 General Discussion, page-245

Mate, I agree with you there. For a while I've been a bit concerned with the talk of acquiring new projects. For me the number one priority is to get the SP over $1 through assay results from the land we already hold. We don't want to be raising new capital at something like 30c twelve months down the track. Rather, our aim should be to keep the number of SOI lean and mean by raising first at no less than $1 and then at ever higher prices as necessary. Companies like CXO and LTR would have SPs over $5 now if they'd been able to follow that model. However, both scratched around for a while before getting onto the right course, and also both were hampered by a depressed spodumene price for two or three years, meaning they had to keep raising at low prices and blowing out the share register. WR1 is fortunately right in the sweet spot - as long as drilling produces the desired results.