RE: Thanks Dannys...6 Mar 2021 00:35
3card, I think you could be spot on. If we were to drill hell for leather on KS without first having the security of the KN concession, then not only would the cash burn be more significant and much faster, Kurt would then also be looking at raising the next wedge sooner and without any concession bolster. What price would we be looking at then for the fundraise? I feel we need the KN concession first, raise the money at a healthier sp, then embark on the KS drill. In view of the politics already in play over the last eight years. Well, perhaps even since we gained the exploration permit.
I wouldn't be too pleased with a fundraise at below the 3.16p level of the last one, which was a whacking discount to the prevailing sp at the time. I did take up the Offer in part, but I wouldn't do so again if no further progress is made with KN. As can be seen, the sp still has yet to recover back to the 5.5/6.5p mark.
So, preserve the funds raised where possible, don't throw the kitchen sink at KS when we haven't yet the licence to move KN along. I feel that would be unnecessary high risk, when there isn't the need. Wait for the concession first, and, of course, we may have to take legal action just in order to get that.
Fine lines.