Re: Looking forward
in response to
by
posted on
Feb 27, 2011 02:16PM
Ultimately Developing a District with Multiple Near-Surface Gold Resources along the +30 km Property in Idaho
Flashback to Al Korelin's interview with Del Steiner on February 11th. . . . Del Steiner said that they hope to drill between 25,000 and 50,000 meters in 2011 with 2 drills at the Friday-Petsite and 2 drills to the north and south of the strike to make new discoveries. He ended the interview saying that he thought the ounces to be added as a result of the 2011 drill program have the potential to go up exponentially.
Given that in 2010 2 drills accomplished 10,100 meters of drilling, and that a couple of months ago PEM said they would drill 20,000 meters with a total of 4 drill rigs, is it reasonable that they could drill 40,000 or 50,000 meters without adding even more rigs for a total of maybe 6 or 7 rigs? Do they have the funds to add more drill rigs and/or to drill 40,000 to 50,000 meters in 2011? If not, might they be counting on some new source of funds from something or somewhere? The Montana property disposition, a JV, a first right of refusal opportunity-venture, etc. ???