Galway Gold/Galway Metals Thought I'd do some last minute rreading of prospectus relative to the subjects' $18MM and $12MM funding. neither new company has any nmajor call upon the funds relative to the original purchase agreemnts covering the associated properties, the main expense being for GM in Jun2013 for $1/2MM. GM is planning $6MM drilling and a $3MM contingency (after other estimated expenses) for their next 12 mos (not bad considering they spent 1/10th of $6MM up to now!), and GG has 12 and 6mos (I presume consecutive, so 18mos) explore plans of $2.6MM and $3.6MM with a $9MM contingency.
So, they are well funded for the next 12 mos, so it seems.
Tried to compare CBJ's finds with GG's and it strikes me, although not indicative of potential M&I &I, that the GG results are relatively better...certainly looks like higher Ag finds. Still, that is neither here or there but, given Hinchcliffe "felt' they had 'proved out' a million ozs (I&I) for both Cali and Vetas I sure hope we get a sp in GG that reflects what GWY was before the takeover!!! Say 41.30 divided by 2 and take off a few cents for GM!!! Just goofing around. No idea, but glad the cash amounts appear to cover 12 mos or more of their future explores.