"Tuvatu is the kind of low-capex, straightforward deposit that the majors are looking for these days. Tuvatu is not big enough for that, but maybe it will be at some point. Even if it isn't, it is the sort of project that can be developed by a smaller company. Capex for that sort of small underground operation runs at about $100M+, not billions like the vast low-grade operation may of the majors were focused on until recently. After the merger with Avocet, Lion One's got about 60M shares out and probably $15M in the bank. It has to work its way through a PEA and a feasibility plan for Tuvatu but a previous operator took Tuvatu all the way to feasibility so Lion One has a lot of data in hand already. A new resource number should be out in a couple of months, and I would think it's probably up around 1 Moz now."