Does anyone here know the ave cost of drilling by RC per metre?
Based on 51,745 mtrs to be drilled and ARL being given a float of $12m by the JV to start DFS activities, if the cost per mtr is anywhere near $200/mtr then that chews up all or most of the $12M float, which would also suggest that the JV is in a very comfortable position moving this forward.
Once the shareholders agmt is signed off, funds available for other DFS activities will flow, but will the JV pre-pay more funds for other activities prior to that sign off? Presumably, yes.
Ann: KNP Goongarrie Hub DFS Drilling Underway, page-5
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