We had $5.7M at the end of march so we have the last quarter costs off that.
What would the costs of the latest RC drilling be.
There was nearly 6000m of RC and air core drilling done at CW and RB.
CW: 48 air core drill hole 2340m (deepest 81m) + 928m of RC drilling 5 holes all for geo downhole survey.Note some of these could have been 200m+
RB: 19 holes RC drilled for 2650m NOTE:...many didnt reached their target depths and were redrilled.
From all this can i assume the drilling didnt go to plan.OR BUDGET!
So how much did this drilling cost us?
How much will the downhole geo cost us per hole looks like at least 10.
More importantly how much is Diamond drilling costs for a 500+m hole.
Tasman had 10 holes at 800m+ at $1m per hole by RIO. Hopefully Tony has negotiated a much cheaper rate.
Finances are looking tight
It would be a shame not to be able to do all the diamond drilling required.
We may have to do the minimum and hope for the best.Tough Gig!
Dont get me wrong i am totally behind Tony and the team and the plan but $5M can only go sar far.
Then we are carrying out geophysical surveys downhole
THX Price at posting:
8.7¢ Sentiment: Buy Disclosure: Held
