18 July 2012drilling progress report▲ GoodMajor
The company says its Sinker Tunnel drilling program is underway, a planned 14-month program, with financing received and more contributions pledged but terms not given (promised in later SEC filings). Surface drilling on War Eagle Mountain may not happen before spring 2013, and results are meant to feed its NI 43-101 report and a possible Toronto Stock Exchange listing application. It also describes a mill expansion and flotation line for the 30,000-plus tons of tailings; this follows through on the exploration plan flagged in June 2011 and likely connects to the 2012 note financings (an inference, since the filing does not name the source).