Claude,
Just trying to get up-to-speed here on this one.
First, pretty basic so bear with me if it has been addressed before, I did not find it: If this deposit is potentially "world class" and "majors have signed confidentiality statements", how did a penny company as Rock wind up with the property. Wouldn't larger companies have tied it up ages ago with the knowledge that they have of the geology, ie. long trend line passing through?
We all dream of the itsy bitsy piece of land that everyone else "forgot" to look at, but I am curious about the origin of the project for Rock.
Confidentiality agreements are fine, but all it means is that whatever the majors see when they review data, won't be revealed to others. It is a two way street, ie. good or bad, the opinions simply don't get advertised. What really counts is if any of the majors will get sufficiently interested to fund more drilling. Thus back to my original pondering....why did these same majors miss the property, or did they?
Thanks.
PS. My quick calculations show 34.3mm o/s, 2.7mm options and 17.9mm warrants, giving a total of over 54.9mm fully diluted (I know I missed a few of the smaller financings, so the total would be higher). |
