RE:Cost for drilling ???? Signal is drilling 5000 meters this year. 5000 x $200 = $1,000,000
The resource estimate should also be updated. The last one is from 2021!!!
then another $1,500,000 will be added.
They will then spend $2,500,000 this year on exploration work and for a new resource estimate.
Am I right?
Added to these expenses are the administrative costs, interest, etc. for 2 quarters (April - September).
2 quarters at ($2,500,000 - costs for the first quarter of 2024).
The total expenditure would then be around 7.5 - 8 million by the end of September.
8 million were available as of 31 May 2024.
So from October onwards there seems to be no more money.
Or earlier, if management approves a big bonus for himself ;).
That means they have to get the permits by then.
If not, Goldboro is hardly worth anything.
I'm excited.
To the management:
If there are still a few dollars left:
I would rename the project. Signal is not a good name. It is associated with negative actions and management.
How about Anaconda Gold?