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Message: cost of drilling?

I believe 12,000 approx meters of drilling cost around $3 million or perhaps more. The trenching I would give a million dollars to.

If the drilling cost $3 million, that would work out to roughly $250 per meter drilled, which seems real expensive to me . I believe Energold charged around $170 per meter in 2011 to their clients, while a quote I received from a different company last year, had the different company at around $90 per meter.

If we mutiply approx 12,500 meters drilled by $170 per meter, we get a total of approx $2.2 million. If a million was spent on trenching, the results were very limited for that amont of money with them vaguely described in a small segment of a news release. I believe around $25 for each sample assayed for gold would be fair to assign from the drilling and trenching.

The CEO stated at a Calgary meeting in Mar 2012 that there was approx $9 million in the treasury, there should have been over 5000 meters of drilling completed by then and the trenching should have been mostly, if not all done. Perhaps most of the drill plan was paid for at that time because in the financials there was PREPAID expenses during drilling.

I am just throwing some thoughts and quick looks out there, I havent taken the time to really add everything up in the finacials and am just grabbing quick numbers .

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