GL1’s Manna MRE update has been released. A change in modelling parameters has resulted in a larger tonnage, lower grade Resource. We have updated our Manna valuation model to include the new MRE and guidance from recent ore sorting metallurgical results. Upcoming potential catalysts include further ore sorting results, results of the Manna DFS and possibly news flow from GL1’s Twin Veins gold project. While efforts have been made to reduce outgoing cashflow, failure to complete some sort of a development funding deal within the next 6 months may trigger further capital raising activity.
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