IMO
$25 million cash, admin costs circa $1m per quarter, exploration $1.7m last, $2.5m next.
3 mature & promising local drill targets - 2 relatively understood in Baloo & Nanook, 1 perplexing in Monsoon, why not utilise the funds to secure current cheap drilling packages to drill the 3 simultaneously and provide continuous news flow and develop an understanding of the ground.
The original intent was to provide early cashflow from Baloo, they changed tack and raised funds - so use it in a meaningful way !!!
Ignoring the propaganda - admin costs are too high for the current and proposed ground activity being undertaken and cash position.
S2R Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
