I dare say most have gone now, so that leaves QRL.1.6 m in cash....

I dare say most have gone now, so that leaves QRL.

1.6 m in cash. Probably about 6 months operation. They will need to do a cash raising probably in 4-5 months - race will be on to squeeze something out of Bismarck - Mal, Tekem what ever doesn't really matter IMO.

They have a lot of good land

1.Bismarck in which they floated on and have been exploring. Chances are there is a porphyry/epithermal system somewhere.
2. Exploration licences EL1822/1823 totalling some 2000 km2. Thus far untouched but in prospective country.
3. Another 5000 km2 under application on islands off the east coast on PNG, on Tectonic plate boundary.

If you want elephants get into elephant country and with a potential of some 7500 km2 this has to increase chances.

For me I like the longer term potential and I will probably buy on the dips.