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Post by venturous on Oct 31, 2008 16:38:27 GMT -5
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Post by mackiemac on Oct 31, 2008 17:22:35 GMT -5
Didn't Coach say that the offer in-house was not for buy-out RATHER to finance Aguila progress to compliance stage (in return for some buy in of course). I believe he said that the offer was not sweet enough yet but the interest is sure there!
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Post by ziggy300zx on Oct 31, 2008 22:30:42 GMT -5
I do not believe we will have enough to get to the compliant stage with out additional financing. I believe the plan is to secure additional funds with Peruvian investors after we are listed on the Lima exchange. This additional exposure to new investors should allow us to attract new money to our project and should also help keep the dilution of shares to a minimum. The more investors we can attract to our project the easier it will be to acquire more financing. I really like the idea of opening up our company to Peruvian investors. I want the people of Peru to want this project to succeed as much as us DRV shareholders.
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Post by addictedtodrv on Oct 31, 2008 23:03:20 GMT -5
Thanks Ziggy. Ziggy, do you know what their cash burn rate is or can you give us a guess? With 2 drills working, if they average 2-3 holes a month, very roughly I'm thinking $100k per hole plus other expenses? would 300k/month sound right? That would easily be enough cash alone to bring us to next summer. Or $3 million = 30 more holes? If the Lima listing brings in a little more money that would easily bring us to the 43-101. And maybe someone will make a sweet offer on the property before the summer. I like that idea too, get Peru involved so they can share the excitement with us. If Duran gets desparate (hopefully not), there are companies with wealth that should want a stake in our claim like mackiemac pointed out.
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Post by venturous on Nov 1, 2008 7:32:25 GMT -5
So lets hope that we can get the Peruvian's involved. At a burn rate of $300k/month, we only have another 6 months before we have to SERIOUSLY look at financing.
On the bright side, the goal of the company is to prove up the property and sell it. So, they are really not too far from proving up around 250-280 million tonnes at >.55% CuEq. If they get a chance to drill Aguilla east or some of the other zones, they could push this well beyond 300 million tonens >.55% CuEq. That does translate to around $4/share at a $2 CDN Copper price per LB. I certainly wouldn't be against them selling Aguilla to work on Pasacancha. A few holes of Pasacancha would help as well. Maybe even drive more interest.
ven
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