RE: RE: On Point One Mr. Jimbo
As I have said before I too have things to do so thanks for getting back when you could.
You say... "BXR WILL be drilling after getting a permit. They will do so .........by putting their drill bit to the ground....... and powering it up"... But you see they will need to buy fuel for the drill rig ( 200 liter drums) and get drill pipe transport the fuel and pipe to the drill site. They will also have to buy food for the crew core boxes and transport the food and crew to the drill site. They will need a generator and fuel for it as well get it to the drill site. The crew will need to be paid. I could go on but you get the idea.
Now they do save money though the deal they have with the driller as he is also the vender and will keep the costs down but he will still have up front costs.
So 50K in working capital April 30 and the burn rate of the company should leave very little in the bank right now to start a drill program.
You say... " I have never said that BXR wouldn't do a PP. What my DD tells me, though, is it has zero to do with BXR starting to drill once they get the permit "... Well my DD tells me they don't have the money to start without a PP.
You say..."- Most mining exploration stocks go up during drilling and even in these poor markets, I expect the same of BXR. So, if they wait, they can probably do a PP at a higher price - as they don't need it to drill "... But they do need it to drill as they have NO money in the bank and can't hope that the stock will go up to do it after they start as the bills will be coming fast.
Thanks for your input but the facts are that no money no funny. All I have been trying to say is PP first then drill it is the only way a sound company would go about doing this.
Regards Beenaround
Good luck to all