RE: Rise9 Aug 2025 19:08
As I understand, they will decide the next strategy based on the MRE, another drilling program may happen but that’s not a for gone conclusion, I think the delay in the MRE, was for what I’m calling the second drilling program, deeper hole, holes in areas where they haven’t been, I guess the MRE will point us in the right direction, however, the Saudis may come in and take that over and continue along without the BOD and being in the alpha team to continue, based on the mining report from Alpha, their strategy is clear, find more tin, local to their mine which will extend their mine life, to me that means they are sat waiting for the MRE, if that’s great but could be better, the BOD might decide to off load and let Alpha carry on or they may say we will drill more holes elsewhere on the patch to see if what we have extends further and deeper. At the mo we have one side done, no more drilling there, the other side is how far does this fault line go?, part of the MRE will be an estimate ( you could say guess work on experience) that the fault line extend further and deeper and maybe more holes should be drilled and another MRE later in the year?, I don’t think the BOD are in any rush to sell, but we don’t have the money in the bank to set off on another drilling campaign without doing another raise, from what I understand another raise is not in the pipeline or suggested, more that another investor comes in and funds this if that is the direction. I look at our current investor, would they want to partner Alpha or want it for themself?, would Alpha want a partner?, the later suggests they are ok with that as that’s what they currently have. To summarise, it’s my firm opinion that Alpha/Saudis will invest after the MRE or our current investor will put up more funds to do another drilling campaign , my gut tells me a good offer will hand over the keys, I think most shareholders would support a sale around 1-1.5p per share.