RE: RE: Drills?“When is CQX planning on drilling on their properties, seems like foreve we haven't heard anything about next steps.”
You need $ to drill. Right now they have none. And like almost every other junior their SP has got crushed this year, especially lately. So unless they dilute the hell out of the shares, which I don’t see them doing, people are going to have to wait.
Right now I wouldn’t bet a dime that the Wassa claims get drilled anytime soon. Same goes for the Goldstrike claims in Utah. To raise $2-4 mm at current prices they would double their current share structure when adding any warrants into the equation.
Now the Lucky claims CQX farmed-out to Visible Gold will get drilled this month. 8,900 m of drilling in 13 holes will be covered entirely by Visible. If there can be a discovery found there then the CQX SP will take off and then you see a financing for Goldstrike and Wassa. If not then CQX probably farms-out Goldstrike and/or Wassa and hope the 3rd party finds something on either of those properties.
CQX hates dilution. They’ve made this very clear in the past and within their March 4 BMR webcast. So I just don't see a financing at current prices to drill a few holes and slice your upside in 1/2 by doubling the current share structure.