RE:Fork In the Road Edit**:
Been catching up on a ton of posts, keep myself occupied during the -8 degree weather (…just imagine the Ishkoday rn). As I’m reading, the overall consensus I’m getting is there is a fork in the road decision:
- On one side, people think the Property Of Merit was done to have immediate (underlined due to the fact we could have waited a ~month to beef it up using the strong 2023 results) 3rd party validation to prove to a VC/Private Equity company(ies) the potential of our asset. The VC/PE company would then spend the next 2-4 years drilling and injecting mass amounts of capital to develop an actual Mineral Resource Estimate and sell to a Major. The positive in this scenario is that the sale would be in the short term, and the negative is that the share price would be lower than doing the MRE on our own (I have been seeing a ”conservative” ~$2-$4 target with this stance).
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- On the other side, people think we are going to use the findings of the Property Of Merit to raise substantial amounts of capital on our own (similar to GBR) and do the drilling ourselves over the next 2-4 years, then sell directly to a Major. This will cause dilution, but the goal here is that our diluted shares will equate to a much higher sale price than if we sell to a VC/PE in the short term. The positive in this scenario is that the share price would be much higher by doing the MRE on our own and selling direct (I have been seeing a “conservative” ~$8-$12 target with this stance). The negaitve is that we would have to wait another 2-4 years for a BO.
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Would love to see dialogue as to which option people prefer and if there are other options on the table.