TSXV:AAA.P - Post by User
Post by
jonofdublnon Jun 21, 2011 9:31pm
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Post# 18747576
Our Option on Adjacent Land
Our Option on Adjacent Land
It seemed that FA somewhat dismissed this and quickly stated that cash to mine is more important at this stage. So, is this a bit of poker? I think so....here are some thoughts and a potential solution/conclusion. Please correct as necessary since I have not followed this potential event in great detail.
- The option on the land to the East is open to us July 1?
- The new holes have been drilled to the east and of course, results will not be released until after July 1.
- The land is next door and one would think it is somewhat loaded with tonnes and grade.
- BHP is in our camp and a somewhat friendly neighbor.
So why don't we exercise our option for the land, drill a bit to prove the value and then sell our option to BHP or another miner. Could the funds of the sale eliminate the need for going to market for about $100 Million? Maybe it would not cover it all, but it should cover a decent amount. If we can take action soon, to avoid dilution later...why not, even if the dilution will not be very drastic with no action. FA may need some funding from the current sources to pull this off, but why not make it juicy for them?
I hope to ride this out until we have at least a full year or profits while using rail transportation under our belt.
My best,
John