So the drill results are out and it is not a home run......wow.....oh well. nor are they horrible. we are exploring for gold not shooting ducks in a barrel and expecting to get every hole. it provides more evidence of what is here, we move along. we have had some SPECTACULAR holes here at Helen and there may be more, i.e. hole 11 etc..
the stock has moved around large amounts completely unrelated to drill results so how can anyone attribute a .03 cent move as anything other then a regular day......the market is indifferent.
I hope to post later today time willing, pre Toronto trip.
key points to the news release are
-there are 3 rigs moving right now which is great. we don't have to move one of the two to fill the hilltop commitment that was extended by Newmont for our lease. 2 buzzing at Helen one at hilltop.
(Plus there is a better quality rig coming, supposedly next week to replace one of the rigs, which means more efficiency and less down time, an improvement on an average drill rig)
we also have 8 million $$$$ in the bank and our burn rate for 3 rigs humming at the same time and administrative costs are between $600,000 and $750,000 a month. Tom Lee and other corporate moves have lowered the burn rate. There is no imminent PP coming, we have months and months.
