OTCQX:BALMF - Post by User
Comment by
goldhunter11on Dec 31, 2019 10:54am
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Post# 30505115
RE:Going Forward
RE:Going ForwardToday's news is a confirmation of the closing of the Quebec FT shares (~9Ms, at 0.51/s). The price is higher that the market price is because the buyers can get some tax write-off that would bring down their effective price to (usually) below the market price. Regardless, the extra $4.5M would help a decent drill program for 2020, say a 40,000m - 50,000m drill program. They must go deep, say around 1000m/hole to have a better chance to hit high-grades like what WM has on the other side of the boundary (at Fenelon). We are talking about 50 deep holes of 1000m each or a mix between some 1000 m and 500 m holes.
If they have some spare cash they could perhaps do some in-fill drilling at Martiniere/Bug Lake to give some indication about the potential of expanding this RE as well.
GH11
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Chaulkdust wrote: BAR is now cash up for 2020. What was holding them up in the past was lack of funds to do much. Let’s hope they come up with a wise drill plan and exploit some their assets in 2020. A little bit of dilution is worth the ability to drill in a serious manner going forward. Happy New year to all!