One more day has passed and the SP did not move for another day! Extremely low volume traded! I guess this is the calm before the storm? Anyway, these are the things we know for sure that are moving:
4 rigs drilling 24/7
Extending of resource at El Zorro: MRE due in 3-6 months
Detailed met work program: due in a few weeks
Preparation for the drilling of Buzzard or Drone Hill (district target drilling): due in a few weeks
Scoping study: due in 6-9 months
Behind closed doors negotiations: outcome in 2 weeks time. If the vendor decides not to contribute then we would immediately have 85% ownership. If he decides to give us $2.3M for this year exploration plan then surely we would use this money to add 2 more rigs. Please note the wording "INITIAL of 4 rigs" below. Besides, when we need to look for a CAPEX of $100M to build a mine, for example in the next 12 months, we only need to take care of $70M, the remaining $30M will be contributed by the vendor if he still wants to keep his 30% onwership. Its a win to win situation!
TSO Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
