Agoracom: Small Cap Investment - Spider Resources - Re: RE NN Email... - Drilling Costs

Welcome To The Spider Resources HUB On AGORACOM

First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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FANTOMAS

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Re: RE NN Email... - Drilling Costs - BullyBoy

in response to

Re: RE NN Email...what's this preoperty dilution????John

BullyBoy

posted on Jun 17, 2008 01:31PM

Some are estimating NOT is burning well over a million per month on drilling.

Noront´s drilling costs from Nov 01 2007 to Jan 31 2008 were $ 3.132.520 which equates to $ 1.044.173 per month (mainly McFauld´s plus Windfall, Burnt Hill, El Verde, Lizar and Garden Island) .

Your guesstimate is very accurate but should have increased over the last quarter (waiting for the IFS update).