Has the Bradley Bros. drilling rig been brought onsite yet?
Soon the Acari river will be difficult to cross, preventing any deep drilling for potentially 6 months without this rig. I would think that Lori might be hesitant to release any results unless the deep drill is available. Part of the reason for the $4.5M PP was to provide funds so that if necessary (due to a low ball offer), she can promptly provide more proof.
Bradley Bros. could likely use a helicopter to transport the rig which may mitigate some of her concern about getting the ball rolling to soon. However once it does start to roll, it will likely be difficult to slow down, and I’m not talking about SP but rather a buyout transaction. So I suspect she will drag it out as along as possible until she believes she has a winning hand, prior to laying any of her cards on the table.
I also suspect that the re-enforcements sent to Peru are there in-part to expedite getting a drill onsite and get a better handle on timelines to get results processed.
When I refer to a winning hand, I’m not talking about just obtaining several multiples of the current SP. I expect a reasonable valuation of the property, which currently is not reflected in our proven reserves or the pending assay results. We are going to need the trenching and drill results including a few deep holes to prompt an offer worth considering. Lori needs to be comfortable with the timelines for the deep drilling and trenching results before she gets the ball rolling.
BubaBob
