GREY:PGDIF - Post by User
Comment by
Durkastanon Dec 06, 2010 5:42pm
349 Views
Post# 17808487
RE: pop?
RE: pop?We will probably have to raise a little bit more money for exploration next year.
The Chidliak program is budgeted for 15-16 million if I recall correctly, and we're only on the hook for 49% of that. So 7.5 to 8 million for us, give or take.
The Qilaq and Cumberland projects are going to be the reasons that we will have to raise more money. Personally, I would like them to leave Nanuq alone in 2011. They spent 3.5 million in Nanuq last year without finding anything at all. I would far prefer to see that money go toward Qilaq, which only makes sense given its proximity to Chidliak, and an expanded geophysics program at Cumberland.
We probably don't need MUCH more money, but I doubt that the 12 million or so that we have in the bank is going to be enough. Maybe a small PP at 30% above market again like last year? :D