Once we have identidied the targets which is the focus this year... drilling 2012-or 2013.
Looks like we have definately shifted our focus from drilling to district mapping. Now the question is why the shift? We have the new zones with mapping so why are we not going drill crazy like some of the other companies I follow. I think the answer lies in the idea that we don't intend to sell the whole holdings all at once. Returning to the prorata idea, we would not get the true value of those holdings. The areas of interest don't have enough data so it appears to me that we would welcome more time to drill. This is why we are estimating a longer time for the FS than is really required. So we are stalling for time.
Will Teck allow this? That's the next question. How long will it take to settle the offer? I think Teck backs in. This makes more sense. They take what's theirs in their own time. On that one there's no question of how long it will take to conclude. They will look at their own cash flow and supply timing and that will dictate when they back in. I think they have given us a timeline and this is why we are switching to district mode. Clearly, eveyone should be wondering how we will fund that effort. We are going from a deposit resource explorer to a district explorer. Hmmm. That's risk without data to guide us. It almost looks like we are getting to big for our britches.
Elmer's justification for district mapping is that big miners want 50-100 years of supply. (It's not going to delay the FS.) It also gives room for new entrants who want a position in there. (55 minutes). That is like starting from square 1. It will take a few years to start proving the district. I'm thinking they are looking at a 5 year plan. They are proceeding like Teck won't be offering on it. So if the shift is due to a declared timeline and the co is making a 5 year plan it may be safe to conclude that SC will be sold but not the rest of it. I simply don't think they will offer enough for it without some drilling done. Maps are good but they will want assays.
This pretty much makes it a for sure thing that we will be around in the future.
