RE: RE: RE: Castle Silver.....nice post....but...."The cost of prepping and drilling Castle Silver at this time all but guarantees that an other private placement will be necessary before we get a 43-101. With our current share price being so low management will need to do a pp offering at less than fifty cents."
And this is based on what?
GBB as another 37,000m drilling left in Phase 3 at Granada + 6,000m at Castle Silver. Thats a total of 43,000m of drilling.
GBB has $6mm in the bank. But thats not including the $3mm + they'll be getting from the Quebec government. So say $9+mm, not including any warrant or option $.
Not knowing exactly what GBB is paying their drill contractor per m drilled, I got some sort of an idea today at PDAC from Visible Gold's president (no I didn't see GBB so don't ask). He told me they are getting drilling contractor quotes as low as $47-$65/m. With the average in Quebec currently about $120/m. If you use the $120/m figure for 43,000m left in all of GBB's remaining drilling its $5.16mm.
Now remember that GBB said that they will compile the NI 43-101 report with the majority of the Phase 3 drill results, not all of them. So GBB will not drill the entire 37,000 m at Granada to compile the report. So there should be even more $ left in the bank when the report comes out.
Your assuming that they have to finace before the report and speaking as if its a fact when its nothing more than an opinion.
"Management must start keeping the deadlines they set. Their failure to do so is driving good investors out of this company."
Once again management isn't in charge of when they get back their cores and they are not the ones compiling the reserves report. Whether you like it or not. You can blame them for everything, but it doesn't matter. When the SP was rising this wasn't an issue. But now all of a sudden it is?
If they hit at Castle Silver with some high grade Ag, you don't think the SP will rise and bring $ onto GBB? Ag is red hot now. Way hotter than gold is.