chalice and enamco reach agreement, page-6

Yep ENAMCO have done very nicely. Silly to push the deal before drilling the new targets. Gave away 30% of any future upside in the immediate area of which Chalice has been talking up. A year has gone buy since the DFS without any engineering or construction so another six months would not hurt especially if as we expect there will be some exciting grades from the deeper drilling.

Golden Ale, don't get stuck on only $40M for capital. I can see the total capex blowing out to 150 - 180 million due to time and commodity prices and I would be getting used to the idea of plus/minus 110M for Chalice's part of the capex.

I believe the money they have from ENAMCO will and should be spent in exploration over the next two to three years.