Keep the faith kids.
This was the email response I received from the Company a little while ago:
Please find below, in red, response to your queries as provide by China SAM and the CEO:
1. A giant like SAM would have access to numerous different methods of funding. When it is so pivotal for our company to get on with some activity after so many years, why is it so difficult to find a (relatively) small $4.5 million dollars. SAM has been investigating, and continues to investigate, the most appropriate funding arrangements. The company will update the market as soon as possible.
2. With the recent capital raising, SAM have given up their 51% controlling interest of our Company. Was this deliberate and are they concerned about this? No
3. My understanding is that drilling can only be conducted during Summer. Is this correct? How far into the calendar year, could we still begin drilling? Drilling can be undertaken throughout the year, but due to weather conditions, the cost increases during the period November to March.
4. Since the beginning of the year, Wolf has maintained that 2017 will see 2 exploration wells drilled. Is this still going to happen? Certainly that is the intention, however this is subject to funding.
5. How soon after funding has been sorted, can we start drilling? The lead time for preparatory works and mobilization is approximately 2 months.
6. Is SAM still 100% supportive of our Company? Yes
Thank you
Ok, so 2 months to get prepared with March being the ideal start time.
Possible we may hear about successful funding in just a couple of weeks then.
WOF Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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