Romarco Minerals Inc. (R.TO) went down to $1.20, off 4% from
yesterday's close, after providing an outline of its planned 2012
drill campaign based on the positive results from the 2011
The company's 2012 exploration and development drilling plan
will be conducted with five company-owned rigs (four core and one
reverse circulation). This program will yield a cash savings of
approximately US$17 million over the 2011 drill plan and deliver
85,000 meters of exploration drilling in highly prospective areas.
The proposed budget for the 2012 drill program is approximately
US$12 million. The company believes that contractor drills can be
re-mobilized and additional company rigs can be acquired if
warranted by exploration success. The structural information gained
from core versus reverse circulation drilling should lead to
improved step-out targeting.
By mid-morning, more than 110,000 Romarco shares have already
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