SALT closed on Friday at $1.17 M shares.....It sure was a breath of fresh air on Friday for us that held our shares and/or added to them. There was a lot of concern since it was over 3 months without an update as the share price continued to decline from its high back in early February, the only thing we really knew about was that they drilled a hole to the salt bed top. Boy were we ever surprised on Friday to find out they had drilled a second hole in a different direction, thus expaning the resource significantly. Here are the key metrics from the Press Release.
Of significance, 1) further details to come from the 2 holes (I suspect they may be drilling other holes), 2) data collected suggests shallow resource, open in all directions, incline ramp implied, and Feasbility Assessement ongoing, 3) retained a North American company to manage the potential selling of the company in advance of the feasibility study.
I love Rowland's confidence, "
Great Atlantic has extraordinary advantages, all the necessary components to become a state-of-the-art 'salt factory' and a disruptive asset in the heart of the eastern North America road salt market".
And let's not forget the Fischell's Brook spinou...!!!! - The continuing drill program at Great Atlantic has extended the massive homogeneous high-grade salt deposit by approximately half a kilometre to the northeast and half a kilometre to the northwest through the first two significant stepout holes (CC-6 and CC-7), with further details to come.
- Geotechnical data continue to support the objective of accessing the large Great Atlantic deposit, unusually shallow by industry standards and still open in all directions, through an inclined ramp as a unique and highly efficient mining method among North American salt deposits, subject to final feasibility assessment.
- Atlas has retained a North American firm for special corporate advisory services, in advance of the completion of the feasibility study.