HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

Free
Message: Re: Our Little Secret- bluebird, I am not worried
42
CMP
Mar 09, 2010 04:00PM
3
Mar 09, 2010 04:02PM
11
Mar 09, 2010 04:04PM
2
Mar 09, 2010 04:06PM
27
Mar 09, 2010 05:10PM
3
Mar 09, 2010 05:36PM
4
Mar 09, 2010 05:43PM

We've got over 9 months left in the year. The ~1000m holes cost about $250K each, IIRC. My guess is that the 2500m holes will be about $500K each, all things being equal (they probably aren't- anyone have data on costs for drilling with the 2500m drills versus the 1000m drills?).

If the flow-through financing for this year was indeed what another poster said (sorry cannot remember who said it!) is $25M (sounds high to me), then that will buy Noront 50 @ 2500m holes. Obviously Noront will get a mix of up to 1000m holes and 2500m holes. I have no doubt that the money will be spent; it just won't be as efficiently spent as possible. Heck, Noront might just surpass dear RN's spend rate by having to move the drills around using helicopters after the winter drill season! And we'll be on the TSX, too! :-) Real Soon Now!

So chill out, man These are not problems, they are opportunities for our our beloved BoD to show their mettle.

26
Mar 09, 2010 08:42PM
1
Mar 09, 2010 09:09PM
15
CMP
Mar 10, 2010 07:26AM
Share
New Message
Please login to post a reply