GREY:FNTRF - Post by User
Comment by
botfedon May 05, 2010 11:19am
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Post# 17064987
RE: RE: re financing
RE: RE: re financingA quick question: what would they do with 3-4 million right now? PPs aren't put together without a budget for the use of the funds. The budget FDN management had put together allocates about $500,000 for Sanders.
In order to secure 3-4 million, management would have to put together a new budget; that means drawing up new drilling plans. I don't see why they'd authorize that big a drilling plan this early in the Coldstream project. They want money to drill Sanders, which is a new drill for them; large drilling projects aren't announced right off the bat, even when the odds are good. Coldstream itself was close to a sure thing, but FDN plowed less than a million into it at first.