..."Smeenk advised that KWG planned to raise some capital soon to enable it to undertake a drill programme on the Black Horse project, where it had the option to earn an 80% interest from Bold Ventures. It had recently reached an agreement to extend the deadline for the earn-in agreement by a year. KWG would have to spend about $2-million to drill three holes at a cost of about $600/m to 700/m. Despite there never having been a worse time to raise capital, Smeenk said he was confident that KWG would be able to successfully complete its exploration programme..."

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