What next?

MC $6.35M
Cash $5.7M
EV $600k

Credit to the Board for keeping the burn super low. They are also lucky that ASX has not suspended the company for being a cash box. The stopwatch began in mid-July last year when they sold their sole flagship gold project.

Beautiful shell no doubt, but 1 of 3 scenarios can happen:

1) The Board does very minimal given the amount of cash on hand - the burn will continue to be minimal and the money will last for years. If ASX approaches them with a timeframe, they will peg a small Au ground somewhere in remote WA and prepare some surveys very slowly over time.

2) The Board distributes $3-4M back to shareholders. This leaves the company with around $1.5-2.5M on hand. The Board starts to actively look for acquisitions in the gold sector with potential & sound nearology, yet still in early to mid exploration phase.

3) The Board goes all out in an attempt to find an advanced gold project, with near term production play. Transaction may involve big upfront cash payment, consideration & milestone shares, with required exploration expenditure to fulfil percentage interest.

Honestly (and unfortunately), I am seeing option 1 to be likely, but stranger things do happen.