Question-and-Answer Session
Unidentified Audience Member
[Question Inaudible]
Larry Hulbert
Well, if we have the discovery -- yes if we have the discoveries that we had in the past, we’d find a deposit lets say there is a 100 million ton deposit, there is I think 25 years of deposits from that [one area] alone. If you take a look at Sudbury in [Kandis] (inaudible)
Unidentified Audience Member
[Question Inaudible]
Larry Hulbert
Not if that infrastructure is there. You could fast track. And mining there you could fast track it as always.
Dave McPherson
William Lake could be in production in two or three years because of the infrastructure there; its much further advanced. So that's like William Lake being in the near term.
Larry Hulbert
Just an hour and half of the route to William Lake, there is inaudible). But then the other thing about the area, in Alaska is running parallel to the highway is the Alaska pipeline and just north of the MAN property there is actually a tracking station where they actually make diesel. And we are already in both arrangements with the state for production of useful sources of energy, so we're not going to have to bring in, we can actually use that. So we do have wonderful infrastructure. This is not like a lot of nickel property our play in Canada and elsewhere in the world to start very remote [inaudible] that has been above $1 billion just to get roads into the facility.
Unidentified Audience Member
[Question Inaudible]
Dave McPherson
No, we don't own that. Well, it's state and federal land. We have the mineral licenses and claims to the property.
Unidentified Audience Member
[Question Inaudible]
Dave McPherson
Well, obviously we keep the annual fees on them. Yeah.
Unidentified Audience Member
[Question Inaudible]
Dave McPherson
Well, there is $10 billion of cash sitting in the kitty right now. Sorry million, million. And that will get us to a drill program this year of $8 million. So we'll end the year with a couple of million bucks in the bank likely.
Unidentified Audience Member
[Question Inaudible]
Dave McPherson
About a $1 million a year on old property, it's about $1.3 million.
Unidentified Audience Member
[Question Inaudible]
Dave McPherson
We are modest in terms of cost. Back up on the licenses. On the joint ventures where we have granted earning options to others, they pay the license costs. So those start to come in as we grant them. So there is an advantage there, all costs will gradually come down. And there are some trade-offs on some of the claims and some of jurisdictions where if we do exploration, we can trade-off exploration costs against the claim costs. So we can bring those costs down. What are the management costs? I think our entire head office costs, which includes salaries, rent, the whole nine yards, some of the field crew at the sheet level about a 1.5 million.
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