I don't think ARE are now full funded for the entire 28-30 hole program, but this is hard to tell given the delay in the drilling start and the unknown cost of the drilling. An update from ARE company making this 100% clear if they are fully funded for the entire program would be highly welcome.
What is certain is AIS is not fully funded for the whole program and they are carrying 70% of the cost. How they are going to pay for the full project is as clear as mud.
We can disagree if releasing details on the whole drilled is important or not, but I think with a drilling program of this complexity it would be worthwhile letting the shareholders know that everything is going well. This is not some 50m RC drill program; 800m - 1200m helicopter supported diamond drilling in an environmentally sensitive location is not simple and it would not be unexpected for something to go wrong or be delayed.
What I do think is far more important is that ARE/AIS release an update that says how they will be letting us know. Right now we have no idea when any results will be released and what information they want to have before releasing the information.
ARE Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
