Post by
cudjo on Feb 15, 2018 2:17pm
may find some clues here
"This phase one resource is based on only two of the 74 currently known kimberlites at Chidliak providing significant resource expansion possibilities which the company intends to pursue in 2018." So a rights, then go after 44 and 1?
"The PEA we announced in 2016 clearly established Chidliak as a unique diamond development opportunity. Today's announcement of the significant expansion of the diamond resource should have a material, positive impact on the forthcoming economic analysis and I look forward to sharing the results of the updated phase one diamond development PEA with all of our stakeholders as soon as possible." Last presentation said mid March for PEA, PDAC is in a couple of weeks, bets on it will be before then? Then fund raising? Good Luck.
Comment by
mill44 on Feb 15, 2018 3:23pm
It all boils down to what Friedland wants. If he is happy with what he has already, then we can talk about a partner. If not, rights offering it is.
Comment by
shneps on Feb 15, 2018 3:40pm
I haven't done the calculations but I believe there is enough money in the coffers for the trenchng program they want to perform. CH6 and (2) at CH7, CH44 and CH1. Blast and trench aren't comparatively expensive endeavours. They have requested upgrades to the ice landing strips for Hercules aircraft. Not sure. Aren't we all?
Comment by
cudjo on Feb 15, 2018 3:46pm
had 2.2 million in working cap as of the 8th, plus 1.6 cash was already earmarked. Think the total was 3.8 on sedar. Enough for a spring program, administration which appears to be around 200K/month, plus PEA etc? Tight IMO. Good Luck
Comment by
schocor on Feb 15, 2018 6:07pm
I think if they plan to do anything onsite in 2018 they will need to raise money; 2.2M is not enough to do anything up there - except maybe some air bourne stuff. Maybe. We need a partner.