Balmoral Resources Ltd BALMF

RE:Winter drill program

[astrorbit]

Prior years give you a basic timeline.

Drills are not active IMHO.Restart in late june(probably)
According to one news release the drills were to stop at the end of march. However, the expansion of the drill program and weather may of allowed more drilling.

March 31/2017 $8.172,458 working capital 9,087,631 cash and eqv

$5million budget for remaining 2017.

estimate cash burn 750,000/month.(if correct this would leave about 6.7million(may31/2017)

BAR's lowest working capital may of been 3.5million

Should a financing occur between now and October most likely it is a sign that drilling will continue and will be another year of drilling.

According to one of Mr.Foulkes presentations(which is now deleted) he stated that the RE would be Q3 2017(on record) with a "1,000,0000 drill hole" to Make or break BAR.

Mr.Wagner countered this in another interview where he stated he may decide to hold back on releasing an RE.(March2017)

Sept 2016 Mr.Wagner stated he would be surprised if BAR was around in 12 months(not verbatim)

So to sum it up. Q3-2017 could be very interesting. BUT given the history it will be another year of drilling and drilling and sizing and scaling and infilling and diluting.