Balmoral Resources Ltd BALMF

RE:Grasset

[Chaulkdust]

I think it all depends. Step out drilling is moving away from the resource- larger intervals. Infill drilling is used to close the gaps in previous drillings. Since BAR has now 2 resources that need to expanded and better identified, perhaps more infill drilling is required to enhance the existing RE’s ? So, It may in fact be appropriate depends on what they are try to accomplish. Only BAR knows at this point in time and hopefully they make the correct decision. My own opinion is that it makes sense to flush out and extend the existing 2 resources not wander around looking for new targets unless the current 2 are dead ends. We have limited funds for Spring/Summer to show some results and perhaps extend the existing resource base before another funding round will be required.  BAR needs to make steady FORWARD progress, delineating and identifying  the 2 resources we have. Hopefully, they have the knowledge/skill,   to create a solid plan for getting things back on track for BAR and the shareholders.
A must for the Spring/Summer drill program is to break it up into 2 parts. Thus, allowing for some drill results to be shown by mid Summer and the other half at the completion of the program. This 3-4 month interval between any results is not acceptable at this point in time.

 The shareholders and the market need to be kept better informed of progress being made. This would also allow for a change in targets if the 1^st half doesn’t show an acceptable result.  With the share price and market sentiment basically in the crapper we can no long longer afford an Avant guard approach to exploring.

While I have been critical of BAR’s marketing and exploring approach, I still believe the land package offer many opportunities for great success. The current situation is drastically overstated, and BAR has been placed in a difficult situation, which is extractable if proper a strategy is put in place. I am curious to see what bar has done with the Winter program? Since it was put in place before the latest market debacle has taken place, they may not have targeted the correct areas for future benefit/direction?  Thus making a Spring/Summer plan even more important! Wasting money on 810 at this point in time is totally useless. BAR needs the flexibility to change mind sets and get in the correct gear to capitalize on what’s in the ground already.