RRE 0.00% 3.0¢ rubianna resources limited

no decent reporting, page-5

  1. 247 Posts.
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    Hey guys,
    looking at the quarterly- Have we heard anything about the Curley's drilling yet? It says expected late-Jan but I couldn't find them.

    From the Quarterly "Curleys (E51/1142)
    Aircore drilling to test two zones with geochemically anomalous gold has been completed with 324m of drilling in 10 holes. Assay results are anticipated to be available late-January 2012."

    Everything else I've read implies that after the recent ok results, it looks like they're going back to planning the next phase and nothing will happen until the 2nd quarter...does that sound correct?
    Is there any money hiding that they have access to that isn't immediately obvious?
    WHen they mention that the Bloodstone drilling constitutes 50% of the EIP Grant, does that mean they've still got 45k left or has it already been used?
    Either way: Cash at end of quarter- 1,528,000
    Estimated cashflows for this quarter- 525,000
    Assuming that's what they've used, with admin alone they'd be down to $800-850k, + drilling which seems to cost them about 300k each quarter.
    I smell a Cap Raising a comin.(started writing this more to ask if you guys thought this was the case, but I've kind of convinced myself anyway)
    Kind of explains the recent pushing up of the share price on low volume.
    Would you agree or am I missing something?
 
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