If they are to take the full 150k allocated refund, then that would mean they have approx. 2,500 meters of RC drilling (assuming approx.$100/m direct drill costs for RC) at their disposal, give or take depending on mobilisation etc…how many holes that gets you, obviously depends how deep you take each one. At Tiger, I can’t imagine they will be looking to drill deep straight away, more likely to be a series of fences to test the soil geochem anomaly, so potentially ~10-15 holes as a guess. Not sure they will look to do that much though. Keep in mind what they are really getting is a 50% refund on direct drilling costs for a pre-agreed drilling campaign with a $150k refund cap. It means that if we receive that $150k refund then DRE is out of pocket the other 50%, and for the total additional costs (people, assays, etc). Which don’t get me wrong, its still good, and you'd take it any day of the week…but just pointing out that it is not quite as simple as $150k = x number of holes.
DRE Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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