Wednesday, July 27, 2016 5:46:42 AM
Here is my take and the burden is on Liberty to clear this up for shareholders and skeptics alike...
In that interview, JB mentions desire to keep drilling, and this volume discount. I don't know how drilling companies bill for their efforts but I am guessing it goes something like this;
0-1000' = $200/ft
1000-5000' = $150/ft
5000'-10000' = $110/ft
10000' +++ = $75/ft
So. IMO, JB just need commitments of up to $2 to get into the big volume discounts and keep the drills turning and defining and delineating... Nobody in their right mind believes if he drills the first 4 holes totaling 6000' and they are duds that money should still be spent... If the theory is the stratigraphy and geo work indicate minerals at 500 +\- feet, if the first 1200' is empty, do you keep going or move the drill??
Me, I would shoot a daughter hole off the first hole over the "gossan"..
Discussing your RC drilling concept. The diamond drilling is probably necessary to the larger depths to get accuracy, determine continuity, confirm ZTEM, sell a large delineating JV... But what would it cost to RC 4 holes to say 500' and test the "gossan outcropping" looking for mineral signatures before bringing in the diamond drill to make the big deep cuts?
Could they spend $200k, do the 4 hole RC drilling? If positive it improves confidence and dictates hole depths and angles over target, if negative it still doesn't destroy the concept of drilling to 2000' over select drill sites as ore grade into the porphyry may start near that depth if skarn near surface is not encountered...
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