RE: I said24 May 2022 08:13
'The Company intends to fund the soil-till sampling programme from Landore's existing cash resources, which will also provide the Company with sufficient working capital until the end of 2023.
In addition, Landore has sufficient cash to commence the Felix Drilling programme; however, it is expected that the majority of costs associated with the Felix Drilling and BAM Drilling programmes will be secured through the receipt of income from: (i) the exercise of up to 16.26 million existing warrants ("Warrants"), which were issued as part of previous capital raises, and; (ii) the Company's previous corporate activity relating to the disposal of certain assets. The quantum of any funds required to complete the planned drilling programme will be assessed following the expiry of the Warrants on 14 July 2022.'