RE: Rns20 Feb 2026 15:02
Simples. Any income is at least 2 months away, and that’s once contacts are signed, which could be another 4 weeks away. Mr Sears has said he wants to ‘punch’ 6-10 holes this year, meaning he will need a fair bit of funding to do this. By the way, I don’t believe he will get close to this. He will need funds so punch any holes. Also, there is a good chance of acquisitions, purchasing holes already drilled. Having funds, in Mr Sears’ eyes, means no missed opportunity. Finally, why raise for a million, which costs, just go for more as a buffer! My guess is that they’d easily get it.
Placing is coming, as I believe Mr Sears was already tapping up institutional investors before Christmas, although Drachs will more than cover it.
90 mins to find out if Mr Sears is indeed becoming used to ignoring his own time-lines! But what does it matter anyway, clearly most here can’t see him doing any wrong, and if the share price goes down “what a wonderful bargain basement opportunity to buy more!” Chuckles (Comedy gold!)