Some interesting stuff in the M&A.

 

For one thing they say they have about $750K in cash. We can assume that most of that came from Dowa, but they also say in there that they got $513K in January from Teck to pay for work on Golden Mile. They say that work should be finished this month.

 

The main part of that work would be overburden drilling. That work is REALLY important because if they find some good "gold in soil" numbers close to the bedrock then they'd have some good drill targets. The main thing is that it would be better for Constantine to have TWO horses running rather than one. Golden Mile could be a heck of a second horse.

 

One of the things to remember is that Dowa has a "one year" FIRM commitment on Palmer. The whole $22 million isn't locked in so we need them to really build the tonnage this summer and the Burlesconis and other idiots in Europe NOT to blow up the whole financial world once again.