Coys always claim CRs are 'oversubscribed', but I don't see any issue in getting the money with the information released so far.
- $30M market cap
- JORC resource already from Caribou Dome
- Other reserves yet to be sampled
- 100% owned project
- Mining friendly location
- Not Management's first rodeo (legacy of successful project delivery)
- Assay results in the coming weeks
Granted $4M is a lot to throw into the pool, but if one looks at the current market depth, there is next to zero liquidity for others to take a stake. Hopefully this will add weight/volume to some share price ups and downs - i.e. successful sophs will hold but also make some available to other sophs who choose to enter on market.
PXX Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
