@CPTMATT - Both Dec 31 and Mar 31 FS have only 3M warrants @ 0.28 outstanding. Not sure where you got 28.3M? This is from an email I just wrote to friend:
Zinc price keeps going up. GPM drill target is 40 years in the making as they couldn’t drill for decades due to aboriginal land claims but is apparently one of most obvious low-hanging fruit targets in the lead-zinc district of Giants (closed Century Mine,MacArthur River and Mount Isa nearby – 3 of world’s largest). Every other major outcropping Gossan has been a mine in Northern Territory. See page 7 of presentation. I’m in around $.40 with ‘intelligent speculation’, not gambling $. Nice retracement of recent rally to $.50. Announced drill program start today. Lead-at-surface is a good indicator of zinc below. Century for example didn’t have zinc-at-surface. They are drilling a lead-at-surface anomaly – the low hanging fruit.
$24M market cap.
Multi-bagger if they hit. 10 bagger long term if they find a 100MT lead-zinc resource (Say takeout at $350M market cap after equity dilution along the way). Don’t think drill program will be a total fail so I think loss potential small too.