That's exactly the point Eric. They say that they will spend the winter months mapping molding ideas and modeling. If that's the case the spring summer and autumn months should be about drilling programmes. Not three weeks of the year. It's costing more in wages than drilling. That includes the reduction in wages, which shows how little exploration is actually taking place. They are not being serious about running this company or looking after shareholders interest.
No mention of further work on Mutsk this calendar year. Winter hibernation coming then. They haven't an idea of what to do next, so do nothing. A more extensive drilling plan could have been undertaken this summer, but they needed the cash for the earn-in. They should have and could have raised more funds at a higher sp.
Silverton has to now yield very promising results this year, or the next fundraise will be even more diabolical than the last.
Good luck to those who are sticking with it, but I'll be off in the next week or so.
Looks like hibernation time for Mutsk. Paperwork for the 80%, but that's it. Zero commitment for a JV. Now to spend what little it left in the kitty on helping Birdy out as Silverton. It does look like they have reduced their wages to about half though........ But with no JV and No feasible asset in the will be at 350K in 6 months and diluting again. Time to get out!
I think it's the only future commitment from ore that I have ever seen. Planning work after the winter slumber. With 600k in my bank and work due at silverton they are going to be diluting further before Xmas for sure. Though I expect a consolidation first now so it look good at the investor show next year.
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