Tuesday, August 05, 2008 12:18:18 PM
It costs between $20 and $150 million to “prove up” a resource, which involves drilling and hiring geologists to certify the assay results. Resource juniors found themselves squeezed for cash. The shareholders looked at the books and realised, “These guys aren’t funded to complete their drilling program” - so they bailed out – and the stocks got crushed.
How is Sarissa going to get that kind of money?? Anyone have any idea?
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