excalibur mining, page-2

Hi Boom Trader, if you read my post yesterday re my call to the Co, I said in there that EXM had stated flatly that they would not accept a JV on Tennant Creek. I didn't mention (as it slipped my mind) that they had also said the additional funds from the placement were the reason they didn't need a JV. They intend to keep Tennant Creek 100% owned by EXM, obviously as they know how big the potential is and the placement has given them the funds to fully explore it themselves – or as you call it drill the ____ out of it...lol.

They also intend to bring a second rig on site to join in the drilling (I think that was mentioned in the quarterly) so they are going to dedicate a fair bit of cash to Tennant Creek as they are very excited by the potential. I think mate that was the reason for the placement. If there is anything else he never said but he did mention the funds would allow them to keep Tennant Creek 100% owned – hope that made sense...lol.