Eagle Hill Exploration Corporation V.EAG

news?

[luckypenny2014]

I was happy to see no nr on friday as friday nrs are usually not as positive. It is safe to say the results are in. The big news will be what they found under red dog. They were planning 4 deep holes and the poloarization. If it is good news for eag you can assure the board is arranging the next financing, hence why probably the delay. If bad, eag and sa are in trouble. As mooreman said, 5.5 cents the break even for many. I was pleasently suprised no consolidation was done in june so the big guys are locked in for the long run.

[MaxT]

they already have the $2 m financing which was done at the end of dec.....the upcoming assays will determine were they decide to continue drilling ...cheers ...MaxT

[luckypenny2014]

Was the ff pp done on dec 30 to back date exploration costs from the fall? Is the 2 million they have now burn money on salaries, rents, fees, and other costs. PDAC is expensive.

[MaxT]

No...check out the website !,,,the $2M is for follow up drilling...they had enough $$$$ in the fall program to add a 4th rig and still stay within the budget check out the presentations,Investor Q&A etc....all the info is there cheers ...MaxT

[MaxT]

..although the last NR re;financing did not specify the exact use of the $2 M...it was previously stated that there would be some wrap up drilling once the assays were in ...possibly they might also need to cover the cost of the NI43-101 ! (jmo) ....MaxT

[luckypenny2014]

ff money can't be used for 43101s. Drilling and sampling costs only. I see no reason reason why it would be a bad idea to have hard cash on hand. Money they gotnin the summer was hard cash. Hard cash keeps you in business and ff keeps you exploring. They have to file financials at some point for disclosure. I guess we will wait and see. I still believe the new financing details are causing the