Say we need it to drill to December. Say 6 months if we started in June with business as usual. $6 million total to run the drills.
$6 million at 65 cents. That's a 9 million shares dilution. That's roughly a 2% dilution on the outstanding shares.
I do agree that 2% isn't a whole lot on the outcome but RapidTiger is right that drilling now won't prove any economics.
Isn't it fairly obvious that CUU can't do anything. ES, EE and the board are under the cone of silence. How could they issue shares at this time? Who would purchase them?
The company is locked down, There can be no PP's, no drilling, no exploration, until there is an outcome. Even work of the environmental assessment seems to have slowed to a crawl.
My view is one must look to the periphery. "Copper Fox may not proceed or continue with activity on the Schaft Creek project as currently planned." What is ES doing to set up the future? Well he is trying to build a new direction in Arizona. This in my view is a better indicator that we are moving away from Shaft Creek soon.
The asking price may in fact be too steep at this time. However the longer this goes on the longer they are still discussing. None of the parties has pulled the plug. My hope is that the two sides are moving closer to agreement on the future of Shaft Creek so that we can all get moving on our businesss plans.
