R:
IF our share price went north of Cdn$4.95 before June 23 -- and, without forecasting investor mindsets, it would likely have to go quite far beyond that -- and IF the options were ALL exercised, it would bring us approximately Cdn$12.6 million. Such would be a great "windfall", tho' not unearned. How realistic is that target? Ten days ago, we know the world laughed (subtle evidence in YRI.WT trading at 3 cents, as I recall.) Today, we're a brand new flavor with further results coming. So we'll see ...
JV's are still part of the plan, but they've also taken on a new context.
The "short hole" drilling is still being used to test the surface showings, something which I hope will be more clearly demonstrated with next week's Bacon release. We'll get back to Lejano in about six weeks or so, once we've completed the next phase of mapping and reconnaissance to define drill targets and upgraded the camp slightly. In the meanwhile, we'll likely take a look near surface at Hombro and Goleta. To do deep drilling, we've got to have more information. At the moment, we don't have enough knowledge about either the geology or the structure to do appreciably more than blind drilling. Needless to say, we want to be reasonably confident that we'll find something significant in the first 5 to 10 holes.
We plan to be at the PDA. We'll have a booth but have declined to make a technical presentation. Simply put, we're too busy to prepare a credible one that's up to the standards we feel would be appropriate.
I hope this helps.
Greg |
