Maybe you forgot about this, I think it takes 6-8 weeks to do the NI43-101 and then maybe 2 more weeks to to do the technical report so late July early August should give some clues at to what we have here. JMO
"New Colombia Resources, Inc. (NEWC) ("New Colombia" or the "Company") confirms SGS Colombia S.A. has begun works to complete a N.I. 43-101 compliant drill program at their wholly owned La Tabaquera coal mine in Guaduas, Colombia. At the conclusion of the program, New Colombia will hire an international drilling company to drill the holes according to the plan. SGS will take custody of the core samples back to their laboratory in Barranquilla, Colombia and provide drill hole database management services.
Other services SGS will provide include a Topographic Survey and Geological Mapping which will give the company direction of where to begin production. These surveys will also give New Colombia the information necessary to complete their environmental impact study.
Once the drill holes samples have been analyzed, a Qualified Person (QP), as defined by the National Instrument 43-101, will provide a technical report. The N.I. 43-101 Technical Report is an international standard used for the public disclosure of information relating to mineral properties. Previous engineering reports have shown 15- 17 MM metric tons of mostly metallurgical or coking coal at La Tabaquera. The second quarter benchmark price for hard coking coal is $ 172 per metric ton.
"The N.I. 43-101 will allow us to raise capital with as little dilution as possible, the geological surveys will give us the information needed to have a clear path to production," stated John Campo, President of New Colombia Resources."
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