TSXV:AAA.P - Post by User
Comment by
Potashproon Oct 07, 2010 12:20pm
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Post# 17540754
RE: potash pro
RE: potash proI think I touched on this, but I will translate my understanding of what is being stated here; "The depression has proven to be technically challenging and we have yet to discover the appropriate formulas for both our identified targets, and drilling. This will take time and $ to model the appropriate combination of better understanding the geological formations in the depression, and the appropriate drilling techniques."
Please correct me if I am misunderstanding this, but to me the results to date have been stepbacks in their exploration and deliniation model. Not that that's a horrible thing, as the seismic should unlock better understanding of the depression, meaning they should be able to target much better drill locations in the future. I'll hold off on thinking about re-entry until I see they have the data and selection of targets. if I miss a few points here or there, so be it. This also assumes they show more of a commitment to the project...i.e. I'd like to see a more bloated balance sheet through either a PP or JV, or any other form of creative financing.