Drilling...They are currently drilling. Nothing to worry about. Buying more at these levels. They have a relatively large cash position and a high potential property.
Current market cap of $12M... they have about $6M in cash... and will be generating cash flow in the near future. Do the math.
Things could change here at any time and quickly. In the meantime take advantage of these prices IMO.
red911
"During the first quarter of fiscal 2011, the Company completed two private placement financings for gross proceeds of
$6,625,000 and completed the initial closing of the Sao Chico option terms."