min/max amounts raised and shares issued confirms the ~7.5c raise price.
I've been doing some research on this property and there's a lot to like. I have a really good feeling about it. one i haven't had for a while when it comes to frontier exploration.
Big IP targets and no prior drilling. Amazing location and neighbours. The exit plan is clear. The earn-in is clear.
Cott will contribute toward the stage 1 and stage 2 drilling campaigns. If stage 1 is a duster, they could walk away, so it's nicely staged with limited liability on their precious cash. The holes won't be cheap but finding something is pretty likely imo. It will cost a bit to fully define though, and any discovery will need deep, continuous cored appraisals. just look at Metminco..
Looks like a solid Eloro team in place. The chip sampling is encouraging. They have clear targets based on geophysics and its supported by gold anomalies at surface.
The Cott major shareholder has a strong track record of spotting an opportunity, adding massive value and exiting swiftly (Riversdale) and would be well-connected with the adjacent players.
All of this ought to kick off in this quarter or next, subject to permitting, so there is a huge catalyst just a couple of months away. If they hit something serious at one of those targets, they have a real chance to have 25% of a billion+ dollar takeover in years to come. that's an enormous opportunity that i'm not sure the market has picked up on. The wait has been worth it and it will be very interesting to see how this trades once it re complies.
