RE: RE: Drills?The argument should not be about the merrit of our projects, as we all know that under 'normal' market conditions, we are worth much more than 16 cents. The problem stems from the lack of risk appetite right now. The junior space is about raising cash to further projects and that game is slow right now. Hopefully, life will return to the juniors before most of them run out of money. Keep in mind that even if you think Hite lacks saavy when it comes to making deals, he has proven that he can run a tight ship in tough times. The El Carmen announcement should remind us that we have some cash on hand and a small revenue stream, so we can likely weather the storm.
The potash will not get drilled by MFM without a partner at this time. The basin we're in has natural gas and special drilling is necessary. It'll cost upwards of a million bucks to drill a single hole or two. I don't want to roll the dice with the little bit of cash we have. It could make or break us, but my vote is to just sit tight until Nova releases round two of the assays. If things are exciting, perhaps our share price will advance and allow us to raise cash and get in a more comfortable position to do some work on other projects. If that fails, then I say we use some of our cash to try and add value on our own. Lithium is my play of choice, but the gold properties would work as well.
Times are very uncertain, and I like having some cash in the bank.