In my opinion;
I'm trying to speculate how the budget would get divided up:
Working rates for drilling in the goldfields are roughly:
AC: $14-20 per metre
RC: $25-50 per metre
DD: $90-350 per metre
Assaying: $6-15 per metre
Staffing, logistics and Fuel: $5 to $10 a metre*
* based on a basic two person team following a rig for $300 per staff member a shift plus $50 (?) for car rental or so $650, plus $1000 of gear (calicos, food, drilling fuel) so $1650 / 250m drill rate per shift ($6.60/metre so lets range that to $5 to $10)
That's the best case scenario per budget as this $6m is coming from the announcements and does not factor in any other costs the company is contending with
Going off that, as far as goldfield rates go, any junior company can be proud with anything over 1300 holes for six mil.
What would you guys reckon?
Worth spending some on more geophysics or tree sampling or water diviners?
What would you do?
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