Post by
tarsands on Nov 22, 2019 12:57pm
What is the truth ?
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.
Comment by
captainpooby on Nov 22, 2019 1:32pm
They haven't been able to drill between the two "blobs" because there are no roads and it's all muskeg. As soon as the ground freezes hard enough, they'll move rigs in there and get that drilled. If minerization is continous through the gap, the amount of gold is enormous and that doesn't the Hinge and Limb zones which are huge themselves.
Comment by
ghostzapper on Nov 22, 2019 9:38pm
Wouldn't that be a good one? Muskeg marks the spot!