Ann: Acquisition of Advanced Majestic North Gold Project, page-6

  1. 8,780 Posts.
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    and? they need to pay $1m in cash for this purchase. now with what money are they going to fund drilling WA and Mongolia? how much cash will OB1 has left once they pay the $1m?
    This $1m could have been spend all on drilling Shuteen North and West Kasulu. Now with very limited funds OB1 will need to get very lucky and hit something very juicy with those few holes they can afford. No room for error.

    If the company has ~$15m in the bank then fine, go and explore two different regions. They struggled to raise $800k to further explore Mongolia and now are paying $1m (plus OB1 shares) to buy another project. lol

    another CR in few months??



 
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