RE:RE:RE:RE:Rocks and stocks vidGoldred wrote: I really enjoyed the interview....And toward the end of it....Tim said that they have 12 million in the bank. Let's go Sokoman!!!
Goldred,
Thanks for posting about the $12M cash on hand as of now. I forgot that in my summary post yesterday. That goes with what was posted by some of us last week that they will go back to the market next spring or mid next year. They expanded phase 6 to 100,000 metres however they will have drilled close to the original 50K this year. As Tim said in the video, the "phase 6" will be dropped and it is an ongoing drill program. So the 100K drill program means 2022 will be another 50K metres of drilling. It is not a new 100,000 metre program as this confused me when I first read about it. Therefore the cost of drilling this at $200CND a metre will be $10M. WIth costs incurred on other properties also (to a much lessor extent of course) and corporate costs, you can see how Tim will go the market sooner rather than later if the market price strengthens in the next 6 months which I anticipate will be happening.
I am hoping for continued success on the barge drilling (nice original 5 holes) which will continue to be largely shallow all along strike per Tim. Also, I want a very large PP next year at a high price as possible which gives them sufficient capital well in 2023/2024 (i.e. the larger raise at higher stock price translates into lower shareholder dillution). Remember junior miining is always a race between srong assays=rising share price vs. minimizing dilution from the required financings which have to happen.
BC