dalv, you need to learn GDNspeak. Nowhere do they say they are building a pipeline, only that they are applying for a permit, which they said months ago. As for a gas plant, they are not even applying for a permit until the well is complete, let alone building one! They probably can't do this until the well is complete as they don't know what size or capability is required. Nor have they ever said (to the market) that the well is commercial.
In seven days they have drilled 600ft into Leadville, and are now saying that it could be 1,200ft thick, so it will be at least another seven days before they finish Leadville and enter McCracken, then another day to Lynch. So, by the end of next week they should be reaching TD when they have to run casing (careful with the cement, boys!) CBL, THEN run flow tests and then FINALLY they can apply for the gas plant permit and place an order for one.
Having said all that, I'm convinced from what they have released that it is commercial and only getting more so. But we are still a minimum of three weeks from completing the well, and several months from production.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
