Hi Pumper,
They are going to do 3d in the new year, and then drill another hole. I think it will cost just as much as the first time round, and don't forget completion and pipeline connection (or transport) costs. Another use of the cash might be to purchase a few more percent off NWE, who are really going to struggle to raise the necessary cash for the Xanadu drill.
Time will tell, as this is speculation.
Ann: Share Placement Raises $1,850,000, page-6
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