OTCPK:MEAOD - Post by User
Comment by
longshot52on Sep 24, 2016 9:57pm
81 Views
Post# 25274727
RE:Thank you Mr. Stettler -
RE:Thank you Mr. Stettler - My wonderment ?
Is 8000 meters sufficient ?
Will it add enough ounces ?
Should they be drilling 60k - 80 k meters ?
No 8,000 meters is not suffient to convert the inferred to M&I
No it will not add enough ounces.
Reverse circulation drilling averages around $200/metre so 8,000 metres is $1.6M give or take.
80,000 metres would be around $16M
To put into perspective Osisko in 2007 on their Malartic property dilled 330,000 meters over a 30 x 30 meter grid covering the entire deposiy to convert the inferred to M&I, that is $67M in todays $. Windfall's drill program is 150,000 meters costing $30M, and that is just to start with.
OSK will buy Barry if it make sense and the price is right. Sean Roosen is a hardnosed negotiator who manage to get $4.1 Billion for Malartic and extra $1.6 Billion from the original hostile takeover bid. MTO will be lucky to get $20M for Barry given the insitu value of the ounces.