RE:RE:Merry Christmas and Happy New Year
TM You write to MW that
Burning another 10m on exploration and defining the resource? Its clear at this point that the foreign entities that control this company want to further de-risk the resource before they bankroll some real financing to get this going.
It's probably true that the intent is to continue to define and derisk the resource, one way or other to make it a either going concern, or polish it up for a show - me-piece in the M&A fevered game that is likely to heat up in 2024 and 2025.
It is to be noted that getting addtional funding in the current PM mining doldrums is a coup worth recognizing, even if the funding came from inside the pallisades or the Great Wall -- or from inside the fortune cookie,.
Additionally, it is noted that this is management that is keeping a tight grip on the keys to the sporan, and even if turning the thermostat down, the lightswitches still do work, and the pipes are not split with frost. It may mean keeping the toilet seat on a hook by the door before taking it out to the outhouse, but there's always the option to keep the down vest on. Something has to be done about the kilt, though
If the money has to be parsimoniously spread thin, the time, as managed, for a drilling campaign is rightly scheduled for winter, with the ground frozen for heavy rig movement, and more than that, nary a blackfly, moosefly, deerfly or mosquito in sight for greatly improved working conditions for crew (who are also likely to get paid on time from the new tranches of funds).
So the whole thing is as you imply still a bit (or maybe quite) tenuous, but the ground seems to be firming up from the bogging down we have encountered since the days of the Blasted Portal, and still keep on the blazed trail, despite the years of having to cut out the deadfall and keep on wading through the muskeg.