From the presentation slide 21, drilling should start on Q3 ?
From the last cashflow report they should have about 3.5m now, and administrative/staff costs are only about 200k for the last quarter... so why would they need a raise to pay salaries, assuming they are doing no exploration?
I think this is undervalued and that is why the instos are buying it.
JDR Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held