so watso has to post something, just to keep the fire...

so watso has to post something, just to keep the fire alive.

looking at the last exploration update, which watso seems to think was designed to hide the disappointing results from centenary, one notices that moohdong well, failed to rate a mention.

the report mentions an "expansive exploration drill program", so watso is speculating as to how many holes this might relate to. the reality is that it is better to spend company funds on drilling than to keep on spending it on admin costs, as admin costs will find nothing. the other side of the coin is, is that drilling is expensive, and will chew up the money. the drilling program at centenary was quite limited, with 12 holes (over an incredibly small area), but the up coming "EXPANSIVE" program is supposed to cover the prospects of centenary, spring hill, buffalo, and the new ZEUS prospect. so what does "EXPANSIVE" mean - is it 30 holes, 40 holes, or 50 holes ?????.

for the heck of it, think that "EXPANSIVE" might mean somewhere between $300,000 and $500,000 of extra expenditure, which would normally be in the order of about $500,000 per quarter, then it could well mean that available funds will be sub $500,000 by the end of the june quarter. of course, these funds would be supplemented by some punters who may choose to convert their options

sorry, but the company is underfunded. there is no need to get excited by the prospect of "company making results" from spring hill, or buffalo - so all eyes should be on ZEUS.

watso sure is glad that he did not sell his 6 man tent and put the expected proceeds of $250 into this stock. the wife, kids and inlaws would be calling for blood