Guys, not say that is only sand dust there, I agree is early exploration stage and so on.
BUT
We don't have much cash to keep drilling (1.4 mill). And we need to raise a large amount of cash until December to keep the project.
The hope of almost everyone here (and as the Dr said above) is a JV, that would put the necessary cash to drill and buy the project.
Ok, but why a major would do a JV now? A major can simple wait December comes and bet that we cannot raise the money in the current market. We are simple "middleman" now without much bargain power. Is like buying a house where the owner cannot pay the mortgage anymore: you can just wait for the auction and buy cheaper.
If we didn't have the December situation, already owing 100% of the project, I would be extremely calm. But the reality is that cash and time are playing against us. Chanape is not a new project and already passed in the hands of 2 other companies.
Well, lets hope for the best. The worst case scenario is going to the market farming for new projects and I am prepare for that. Selling is not an option now.
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