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Balmoral Resources Ltd is an exploration stage mining exploration and development company. It is engaged in the acquisition and exploration of gold and base metal properties in Canada. The principal focus of the company's exploration activities are the properties comprising its Detour Trend Project in Quebec.

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Balmoral Resources Ltd > Budget impact?

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Post by astrorbit on Feb 14, 2019 4:01pm

Budget impact?

A $1M budget is about 10,000M of drilling.

Considering that the last campaign was 11,000M and share price barely moved.

Taking some budget to do exploration holes on the new properties might be the most bang for buck.

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Comment by chaney on Feb 14, 2019 5:47pm

Currently they are not drilling. Question is when will they start drilling again? PDAC just around the corner, will there even be a winter drilling program? quote=astrorbit] A $1M budget is about 10,000M of drilling. Considering that the last campaign was 11,000M and share price barely moved. Taking some budget to do exploration holes on the new properties might be the most bang for ...more

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Comment by AlternativeView on Feb 15, 2019 12:02pm

I expect the announcement of the start of drilling to come next Monday. $200/meter is a better budget number for the cost of drilling. [/quote]

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Comment by chaney on Feb 19, 2019 11:49am

Markets were closed yesterday so no news. I could be wrong but I would expect other news before and commencemnet of drilling after that. PDAC less than two weeks away. [/quote]

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Comment by astrorbit on Feb 19, 2019 4:16pm

The only news would be about AEM survey or some survey. Target generation. Mr.Wagner already knew where the team was going to test on the new properties. There is not going to be drill results prior to PDAC.Even a fast tracked result takes a long time for BAR> The case remains that BAR is going to have to stretch their capital until a major company/investor injects capital.

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Comment by chaney on Feb 19, 2019 4:56pm

I agree. I don't think there's going to be a winter drilling program. If any news going in to PDAC it will be about a partner, just guessing. They made a decision not to drill this winter for a reason and I'm sure we'll find out shortly.

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Comment by Hawaiii on Feb 19, 2019 6:00pm

Howdy Chaney Winter drill program is exclusively on the GUC, and is apparently just underway. Unlikely to see news prior to PDAC, only caveat would be regarding Martiniere, but that's not probable. Next news worth reading will be in April, and will be regarding the GUC. Likely to highlight the cluster-style deposits and to put a name on the NW section that's been talked about the past ...more

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