Hi there
As I read it the exploration budget is broken down to each individual exploration licence. You will read the potential deposit name and to the right the budget allocated.
The allocated funds isn't really that much for each licence really. How many drills can you get for $100k nowadays?
The administration costs for a two year period IMO is very expensive for a start up company.
Just my opinion that's all and it looks like the opinion of many others as the ipo may not get of the ground by the looks of the extension. There's more extensions then a reggae singer :-)
Anyway hope it all works out for all involved. Good luck
interesting nova look-alike-target, page-12
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