RE: RE: RE: Goldboro Announces 50oz of Gold over 1If I remembercorrectly, Sailor, you had achat with Mark where he hinted that Osisko may nothave fully met theirminimum requirement for this option year. So I guess we’ll find out Osisko’s intensionsfairly soon here.
Yes this is correct. When I spoke to Mark last (June?) he didn't think OSK had met the $3.5MM cumulative requirement yet, and that they had until September 29th to do that.
According to OSISKO's March 31st MD&A Posted on Sedar, they had spent a cumulative amount of $2,928,000 (see table on page 8).
Between now and then they've obviously spent money. I believe we've estimated in the past that it costs about $40,000-50,000 per DD hole. Since they just drilled 10 holes, I think its probably fair to say they are going to be very very close or will have met the $3,500,000 amount.
So now the question is do they invest the remaining $5.5MM over two years, and if so, how and when.
IMHO if they've already exceeded the $3.5MM threshold, then there will be no sense of urgency from OSK to decide what the next plans are unless they suddenly think they have a big deposit they can bring on line fast with little capital investment.