The last round of drilling at Yandall West cost approx $492k+$353k over the 2 quarters it spanned. At least, I can’t think what else might have contributed to those exploration costs in the cash flow reports, maybe a few bits of paperwork etc.
This Q, they do expect to spend $350k, so we are already half way through without any activity. So presumably, we will hear what they can do. They could just about get away with similar size program without raising any, but would be down to the bone by the end of it and relying on major success to proceed. So just maybe by end of June, we will know if we have a commercial discovery (and fill the gap to 9.4c from 5 years ago )
GTE Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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