OTCPK:MEAOD - Post by User
Post by
gahdcon Oct 22, 2011 11:35am
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Post# 19172959
Cost of Drilling
Cost of DrillingJust did a little online research and came up with this quote: "Costs vary with the length of the hole, but on average holes up to 300m cost approximately $50 - $80 US per meter. "
This is for diamond core drilling. If we say a conservative $100 per meter, then $1 mil would buy about 10,000m of diamond drilling. So the $5 mil we will likely take in when the Dec 12 warrents are exercised would finance a 50,000m drill program if MTO wanted to use it for that purpose.