Livas1, the statement I made regarding no drilling happening and only one rig present did not come from an announcement. It was a direct question over the phone to Brett Matich, about a month ago. I asked him straight what drilling rigs were onsite and what was the present drilling program targetting.
Yes, I agree it seems by reading the company newsletter, there is at least in appearance a cooling down of events we expected to be happening at this moment. I was quite surprised to hear the drilling had ceased, and also to read things were not expected till Qtr 4.
Here's their budget fpr financial year 2002-03 for those who don't get the newsletter:
Drilling to confirm 500,000,000 tones ... $2,000,000
Nickel extraction yestwork ... $250,000 (quite a sum to improve atmospheric leaching results)
Concept prefeasibility ... $ 250,000
Nickel sulphide and regional exploration ... $500,000
Working capital ... $3,000,000
And the current planning schedule:
Pre feasibility study.
Full or partial sale to a mining company.
Return of a special divident to shareholders.
Re-investmant of capitol into exploration.
Strange that Ed's address to shareholders commenced with "I am pleased to announce that Acclaim's exploration and evaluation strategy are on time and on budget"
I would love to have the time to revisit Wingellina and have a good look at what is actually happening!
Bomber
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