Placing,funds required etc...6 Aug 2020 21:26
Mkumar funds have already been raised in placing done before factored into current number of shares. We have an extra $1m working capital from sale of Springfields gold royalties. So fully funded until end of the year. We have only 1.28 billion shares so no further dilution required. We have free carry of gold costs from Australian Govt. 3p using number of shares and value of gold amount, we have 2 copper projects - 1st Kapunda is in Jv with Envirocopper, 1000 tonnes of copper - we have 250 tonnes of that already for Thor, we also have right of up to 75% of that 1000 tonnes. Other Copper project Moonta is in tonnes as well, we have 75% of that as well. Silver project in Pilot mountain is 4 silver mines. The silver ore is encased with Zinc. This study is from Rns of 2018 -go back to pg 43 of postings, full Rns copied and pasted on that page. Silver valued has been calculated at $200m and in line with our number of shares gives us 12p just for silver. So you are looking at 20p for starters and that's not including Molybdenum,nickel,chromium and other metals mentioned in Rns. So we looking at huge huge sp returns prob better than GGP as we have about 1/3 of their shares issued at present. Value of other metals will be calculated using value of metals in $ divide by total number of shares.
The recently appointed non-exec director Mark Mckeogh is an astute geologist graduated from London. This is from 4th August rns. So everybody is forgetting Mick Billing and his past. I saw all the diluting for years but the superb metal acerage and turned a blind eye. I got in Friday just gone, I am already up on my account. Consolidation of shares already done. Definitely the best out of all the gold penny shares all things considered with percentage ownership, funds,location of company works, etc. Nearby news 2-3 weeks time gold lab analysis in Pilbara. More news in October so sp will go over 1p very soon and may prob go further on next 2 Rns. We will prob see same sp movement as Ecr in Australia. Ecr went 0.45p to 2.36p in 4 months, can very easily see this sp movement here.
Regards