Alexandria Minerals Corp ALXDF

RE:RE:RE:Eric Owens Interview 26 June 17

[goldhunter11]

Just took a listen to the audio interview of Dr. Owens (26 June 2017)

https://www.azx.ca/media-interviews/

- Owens sounded upbeat.
- RE updated by December, expect 2x of 2009 estimate (global 2009 RE = ~0.560Moz). So, he was expecting over 1MozAu for Orenada. Which is consistent with my back of the napkin calculation assuming a block of 700m x 100m x100m deep  (or 700 x 50 x 200) @ 1gpt.
- A new 30,000m diamond drill program is to expand the current area (700m strike near the open pit) toward the west (some 4km away from Zone 4) where high grades were found from historical info. It will be shallow drilling (less than 250m deep). Also, they will also try to expand the 700m strike to 2000m,  toward the east (Zone 2). Deep drilling will come later.
- Cost was not discussed, but shallow drilling would cost between $100-200/m (and AZX cost is usually on the low side). Let's assume an average  of $150/m, hence 30,000m would cost ~$4.5M. They have enough to cover this amount from the last 2 financings. June 2017 Corp Presentation says that they have ~7M cash. They may need some additional financing by year end, unless they can get some cash drom selling non-core properties from Manitoba.
GH