After the recent placement and rights issue Dart has $2M cash however there was a shortfall of $1.25M that can be placed by the company any time before the end of April, 2011. I don't think your question on scaled back drilling program can be answered at this time but I have found that Chairman and Acting CEO - Chris Bain is very approachable and will respond promptly.
The following is what I have been able to ascertain.
1. Drilling to start 1st week of May ? with at least 1 rig running 24hrs a day. 2. The company will work towards an indicated and inferred resource and probably need 10-12 holes to acheive this. Three holes have been drilled already. 3. The holes will be 200m to 500m deep and will take 6 to 8 months to complete however drill results will be released as they become available. 4. The company is aiming to bring in independent experts to analyse the data for the inferred / indicated resource.
Hope this helps.
There are obviously a few variables there however given that Dart is already 30% higher than the recent low at $0.05 cents with volume having picked up signifcantly in the last 2 weeks and on the verge of starting a drilling program that could potentially re-rate the company's Unicorn prospect my belief is that the 700K of shares available at $0.67 and $0.07 will not last for too long into next weeks trading.
DTM Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
