OTCQX:GTBAF - Post by User
Comment by
touaregon Nov 23, 2019 10:52am
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Post# 30385264
RE:What is the truth ?
RE:What is the truth ?Initially they had one drill on Dixie.. when they added another 2 they informed us and CT refered to it several times and told us where each drill would be drilling. He also informed us when they moved the one from Hinge and the other they had doing big steps outs over to the LP fault after the BR discovery.
I noted that he mentioned adding more rigs a while back but has said nothing about that for a while now.
As far as I am concerned he would have mentioned adding rigs if they had done so. I also figured one reason for the current pp is so that they can add some more rigs but I am sure we will be informed in advance and also told when and where they start drilling. So until we are informed of more drills I am assumning they still only have 3 currently drilling. tarsands wrote:
They had approx. $26 million in the kitty. Prior too this last PP.
When I say $26 million I mean they had access too that amount in cash and cashables(options and warrants)
Now with another $14.5 + in cash through the last PP they should have lets say $30 million in the bank as cash alone!
Now some newsletter writer figures that they had as many as 5 yes 5 rigs on site. Now I hate when newsletter writers add too the hype and not the factual truth. I do not know whether too believe this tidbit or not. But no doubt that after the PP closes on the 27th they most likely will be getting more rigs on site before Christmas ? I am sure there must be rigs available too them in the area. Getting them dragged by dozer in there might take a couple of weeks though. My gist is either this writer is right or do they even have enough time too drill before christmas break with new drills if they are not there yet?
That’s the reason for the financing. Great Bear is drilling as fast as it possibly can. I no longer have any idea how many rigs they have on the Dixie project; for a time there were five but now I bet there are ten. I get the sense they have drilled enough holes along the known 4-km strike of the LP Fault to estimate a resource before Christmas. That’s a lot of holes, hence my guess that they must have ten rigs turning.