re: Ann: Completion of Initial 2010 Drill Hol... Thanks Zoomy. We're probably looking at 6 months then before needing further capital. I would expect them to be raising when they get down to around $500k or so. Of course if they finally land a deal for Coburn that will change that prognosis but it will be the best kind of capital raising.
I'm not discounting that Xstrata may eventually find a whale and the deal is a good one for GUN if they do find one because going it alone would have destroyed small shareholders by dilution. However the geology is apparently still confusing to them - how else to explain not going for the center of anomalies? Having said that I hope they do spend the full entitlement and put enough holes down to definitively rule the area in or out - including the center of anomalies. I'm not a geo so it's not clear to me why they don't hit the centers.
Landzt, I think the way to go, for any shareholders with large enough position to be of influence, is to suggest to DH that it would be a good idea to review whether his current advisers have the right sort of sales/marketing talent to support him in getting a deal done. I know that the mineral sands market is a bit up and down, especially for us with currency, but Coburn offers a certain source of quality long term supply that major users should be interested in locking in.
Add to My Watchlist
What is My Watchlist?