PEX only has rights to 60% of the estimated 1M ounce reserve and has to raise an additional C$5 million over the next 4 years to finance the drilling... If I am incorrect on these assumptions, please advise... Have not shown PP proceeds into working capital, just reduced the C$6M drilling cash required to C$5M.
FWIW, much prefer to invest with AGI at $16.72 (w/o recovery %) per reserve ounce than with PEX at this time. Will keep my eyes on it and have a small order in for C$.14, figuring I can get it below the C$.15 PP price without the 1/2 warrant...
jackc, any other comments why you like PEX?, are any of my assumptions incorrect? or are they likely to prove up more than the 1M ounces @ their 60% interest?...
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