GREY:ADEXF - Post by User
Comment by
greenandgoldon Sep 21, 2011 8:03am
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Post# 19064903
RE: RE: Lack of JV and its consequences
RE: RE: Lack of JV and its consequencesVenman: "They do not need to rush or do any drilling at all to complete the DFS if they did not want to."
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AXI Management, in a January 17, 2011 press release: "The Company forecasts that completion of its 2011 feasibility study will involve up to 15,000 meters of infill drilling for its Roche Bay project." That amount of drilling would have required the whole season and multiple drills.
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With the very late August start to drilling at Roche Bay, and with only 1 drill going, they will be lucky to get 2,000 meters drilled. Why was the full program of drilling at Roche Bay not implemented? The logical explanation is lack of money: they haven't gotten a dime from XinXing towards the feasibility study because they haven't been able to execute a formal agreement.
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I expect that the minimal drilling at Roche Bay this season delays the feasibility study. They are going to need to drill more in summer 2012.