GREY:SPHUF - Post by User
Post by
OilGoldon Mar 13, 2012 10:45pm
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Post# 19666295
Two holes completed at Red
Two holes completed at Red Duncan Park Holdings Corp. intends to undertake a non-brokered private placement of up to $500,000 of flow-through common shares at a price of eight cents per share.
Proceeds from the proposed best-efforts private placement will be used to finance exploration on the company's Red Lake properties. The first two holes of the winter drilling program on the Dome property have been completed, and the drilling rig has moved to the third hole, which is on the McManus property. The cost of the first two holes will result in the company having completed the spending requirements of the Dome option agreement. The completion of the third hole and, weather permitting, fourth hole is expected to complete the exploration spending requirements of the McManus option agreement.