RE: 280 v 500koz10 Dec 2021 03:31
Prospectus calls it Phase 1 target. So 500k probably "Phase 2" for which they'd need to raise cash (or get warrants exercised). Bellevue et al probably would only be interested in buying if there's 500k as anything less is too small for them to bother with. Explains why they've set aside cash to drill in other areas as well.