May I point out that your estimates of drilling costs still seem high to me - I paste in hereunder a paragraph from the MINING NEWS dated 10/12/19 - this is on the Chalice webpage:-
One of the benefits of exploring in Victoria is that it's a fantastic place to explore in terms of the geological endowment. It has fantastically prospective geology. It also is a very temperate climate and a very accessible part of the world. Most of the land we drill on is farm land, either paddock or crops, so very cost effective to drill. Our all in costs for that program are about $40 a meter, which is very cheap compared to doing an equivalent program in Canada, say. That would be in the $200 per meter price category. It's a good place to explore because we can do a lot of meters for not much money.
I also note on a drilling contractor's webpage that it is stated that RC costs are 25 - 40% cheaper than diamond drilling - which would tend to indicate that diamond drilling may be considerably cheaper that $400 metre - especially now during this pandemic
CHN Price at posting:
$1.17 Sentiment: Hold Disclosure: Held
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