RE: RE: nothing changes
"Anyone know how many feet they drilled last year.? They charged over $900,000 for the drilling at cumo?
I stand corrected. From the
FOR SIX MONTHS ENDED DECEMBER 31, 2011
Management Discussion and Analysis (MD&A) Form 51-102F1
During the 2011 exploration season was limited due to the delays in receiving permits. Only two core
holes were completed in 2011:
Hole # 58-11 - stopped at a depth of 1885 feet due to bad ground conditions.
Hole # 59-11 - stopped on Dec. 15th at a depth of 1907 feet due to winter permit restrictions.
MSQ announced that two holes were drilled in 2011 for a total of 3,792 feet.
If $900,000 was charged for drilling, then the cost was $227 per foot.
At that rate, the proposed 2012 drilling program (230,188 feet) will cost $54,555,000.
Converted into 25-cent shares, that'll be 218,218,200 newly minted shares.