RE: RNS16 Jul 2020 07:36
Morning SF,
Take the time, if you can, to watch the pod cast. CM discusses the drill program cost as a fixed price as the drill partner have decided to take partial equity, part cash to deliver.
I doubt we are fully funded, imho, but any further raises will probably be on the back of an Mcap increase.
I topped up on Tuesday and will be topping up in the next couple of weeks as our SSAS funds become available.
It was a positive to issue the options to the NEDs, a clear signal that they are keen to get this baby up to double figure mcap, as I know it will be helpful for them in future fundraisers..which will happen, again, my opinion.
It isn’t a short term play here, but traders will enjoy the rides, I am sure.
Yesterday’s RNS has pretty much stated this is a multi-bag opportunity, and have clearly defined the parameters for the NEDs to help this happen.
Naturally, it’s not without time-risk, amongst other factors, but I am slowly topping up with top slices and will continue to do so. Whilst it might feel a long time coming, I have a time frame of 9-18 years and so have plenty of patience for this company.
I guess the shorter term wins will be seen when the pathfinder approach is proven, or at least is seen to be successful in terms of cutting down the machine gun approach to drilling. If this is proven, then I can see a fundraise happening for a more extensive pathfinder sampling across the whole area, but by then there will already be a production plan for the first million ozs and by then, we will all be somewhat less concerned, potentially.
GLA and all my opinion and own brief take