HI SB The price given to you is about right it will be not more than 350K for a new portable /heliportable rig. The problem is that SBR management has no decision making capabilities. The money is there, the copper is there all it needs pull the finger out and do it. I have worked for American Company’s and the amount of $’s spend (Millions) just for giving it a try was amazing. But SBR is not shooting in the dark we know the copper is there all it needs is a good drilling plan and fly in the boy’s and machinery from here and the results will speak for themselves. Why don’t they put the drill bit down again in the first hole for a work over and a test of the new rig ( SBR has to move now with getting the gear and crew in order to have money for the new drilling program) and prove what they think is there. So if they spend a million or two in setting up the drilling program and find the mother lode the MC will rise nicely for the next CR which is unavoidable. I also believe that drilling in the most promising location would be strategically wise to secure the money first and then find out the low CU content areas later. The time is the issue here because be assured the drilling cost a lot of money and if you have a good rig and crew you pay good money. (From the CSG industry 30-50K a day) To me paying $150 for 1 meter is paying peanuts. You get what you pay for. The time is over to being tight see the big picture SBR and pay the bucks to make them. I think it needs a different approach of the way the drilling has been conducted new people might be the answer because SBR is digging around for over 3 years with very little success so a change of approach is needed. Get hands on, experienced Operations manager on the ground pay him a good wage and shares and while you spending get a marketing communications guru as well and things will fly. Tim and Matt have to guide the operation from here but the OM makes the local drilling decisions and we will see a turnaround soon.
