The only reason I can see that drilling was done first on Isabel is that is is higher grade than San Jorge. However, the logistics would be a lot harder as its much steeper than San Jorge so the drilling would be more difficult and costly. However, more grade would mean a better project. A lot of San Jorge from the historical drilling is around 1% nickel and you are not going to be able to direct ship that material. Some form of upgrading will need to be done before you can ship it anywhere. But it is back to the start with now having to JORC up a resource at San Jorge and they have $5M to do it. Keep in mind salaries will take nearly $2M of that another $0.5M for company Admin and that leaves maybe $2.5M for a drilling program. You are not going to be able to JORC too much for $2.5M, so they are going to need more money once the drilling starts.
AVQ Price at posting:
19.5¢ Sentiment: Sell Disclosure: Not Held
