Now I'm beginning to understand what is happening here. Just got off the phone with Larry Reaugh, who explained that the funds raised last year have to be spent in Canada, whereas the most recent funding can be used in the US. So they may as well try and develop their moly property, as that was the property used as the basis for raising the funds in the first place.
They plan to resume drilling on the Tami-Mosi property very soon. I think their focus will be on the manganese ore, as there was a previous manganese operation there before, which argues the ore can be processed profitably.
And no gold on the Tami-Mosi property, even though that is what they were drilling for.
Andy
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Larry Reaugh provides outlook on recent acquisition of 400K acre coal property
