Chaco Resources CHP (Moderated thread)

How have costs spiralled? They would only go higher on the current drilling programme being put in place if CHP was forced to use a helirig on Platinillo. The ANH agreeing to amalgamate 2 years of drilling into one year in return for foregoing the January deadline means that they can use a cheaper rig. Once drilled the flow from each hole in this field should fund another drilling every 10/14 days.
Primavera and PLO are already financed for the initial exploration drillings; a positive result from these blocks should mean that further finance/share issues are achieved relatively easily.
Sit back and relax and watch the programme being rolled out next year; they know that further delays will not be well received and I would expect them to push very hard to avoid further setbacks.