RE:RE:I'd like to know
I sent a letter to Alexco without reply.
Clynt raised $9m for the drilling and any unforseen expenditures,already.
Clynt explains why they raised those funds just months ago.
In no way do AXU need $25M when $9M was raised to cover all of 2021 drilling and unforseen events.
“It was our decision that we would rather know what type of a resource,how many oz do we have here sooner,rather than later.
We could have waited til we got underground and drilled this thing from underground.We decided to drill it from the surface.They're gonna be long holes and there's a lot of them
in order to close down the spacing so we have enough confidence to put this discovery into a resource category -indicated resources-and its going to cost a significant amount of money..
8-9 million dollars.
That was the basis of our recent financing.
With the slower ramp up at Keno Hill the working capital we need to have needs to be maintained,we did not want to jeopardise that.We wanted to be sure if there were another surprise,
God help us, on the pandemic side,that we could continue to incrementally move forward.
That was the reason we did that financing.
That will allow us to pull the trigger on this new exploration program starting here in the 4-6 weeks (now 1-3 weeks) and by the fourth quarter of this year that we will be in a position to restate the resources on this property,
including this new discovery,” Clynt Nauman Jan.31 MINING STOCK Weekly interview