Given we can see the mineralization over 255m and it is clearly a major Porphyry deposit, one can look forward to decent grade IMO. The company is still capped at around $10m, so we are not seeing any bluesky at all in the current price. 42m shares on issue and about 12m x20c options makes this a possible market darling on solid grade. The management own all the options as well, so I really like the management being deeply in the game. Management are also the largest shareholders all round. QRL were approached by BHP before, so we may hear from them again if this result plays out. This may become a vary hard stock to buy with this structure. Time will tell. Please dyor.
QRL Price at posting:
22.3¢ Sentiment: ST Buy Disclosure: Held