O.K., so now I know you have to follow Red Moon also to get what's really happening. Red Moon put out THIS on May 16th:
I didn't even know they had put that out. This $250k placement is going to cover these initial TWO holes. They're drilling 500 meters Southwest and 1000 meters Northeast of their original hole that hit the potash. If they hit on both of those then they will have established a 1500 meter "strike" in a northeasterly direction. If they hit on these then they will use another 6, 8, or whatever holes to try and define how big the resource actually is.
After reading the stuff from the PDAC I was kinda worried that Vulcan might be blowing too much of their cash on this property, but now I'm not worried AT ALL about that. They're gonna spend "just enough" to attract one of the BIG players to come in and take this property over. If this looks like a solid potash resource it would be just the type of thing the Chinese would like to get involved with. Laracy might be able to get very favorable JV terms on this property.
So, it looks like in the next month we'll have drilling on this potash property and also drilling by Investcan on the oil/gas properties.
AND, we'll STILL have OVER $4 million in the bank....