Ann: Response to ASX Query, page-28

While we are having this debate about drilling, to be quite frank what they are planning to raise is far far far far far far in excess of what I can phathom out they are proposing in their drilling program.  As I said in another thread about the last Company Update Ann in italics below - is this proposed raise for drilling or wages LOL:

"at a 20% discount (0.4 cents per share) the proceeds from 750 million shares is $3 million. For $1 million" yes 1$1 million not just the rest of the $3 million "you can drill roughly 1,500 metres diamond drilling, 3000 metres RC (all inclusive costs including assaying etc) so very sceptical of this raise unless they are planning to pepper the targets with an extensive first up drilling program.  

For  drill cost info  refer http://detcrc.com.au/2014/breakthrough-technology-will-cut-mineral-exploration-drilling-costs-by-85/
and https://goldexplorers.wordpress.com/2010/11/27/drill-speed-and-drill-types/

"Now in italics below" and underlined "is what they are proposing and IMO that type of drilling campaign costs a lot less than $3 million, so I would be asking them questions round why $3 million, how many holes are going to be drilled and at what depth as well by the way to get an understanding of proposed total metres drilled.So what are they actually using the money for - wages or drilling?"

All IMO IMO IMO IMO IMO

"Theobjective of the first phase of the drilling campaign is to commence with threeAC/RC bore - holes in the Malamute project first and follow up with one AC/RCbore - holes in the Husky project.  However, the order of the drilling campaign may vary depending on the field results."

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