At 10 million sell per day we will have push into sub 0.02 by the end of the week. I think I am best to just walk away and take a look at this in August there agm is next week I think. If they return with the usual blank statement then I don't think it would be received very well
November 27th 2015 Mutsk they needed to spend another £187,000 by August, which is 11% of the $2.5m at current market rates. £273,000 at Silverton. Total minimum spend £460,000 By end of August. So two drill programmes
How they spent 890,000 in 2015 is beyond me given the lack of activity. However that works out to be about £75,000 per month or 600,000 buy August 2016. We know they have to spend money at Mutsk by August to get the buy in. Though it's not clear how much. I think this will be done via a drilling programme. And £273,000 at Silverton. So I think by August early September we should expect to two drilling projects completed. And with only about £300,000 in the bank or 5 months at their current burn rate. They will need to have proved Mutsk and found something of significant value to keep this business going.
We can only hope, wish and discuss theoretically what may or may not happen. However with ORE "the absence of news" can be assured. I don't think that we will hear anything of substance until late August early September now.
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