The trouble with property groups like these in the Cadillac Break is that they've been explored since the 1930s. Drilling past historical depths of 150m will require more capital. Alexandria had $1.8M cash and short-term investments on hand as of Jan. 31, 2012 and lost $372K in the quarter ending on that date. This company's burn rate will likely demand a capital raise no later than the end of 2012 if it wishes to increase its chances of successfully completing its drill programs and final 43-101 reports. Please note that I calculate burn rates very conservatively because I believe in paying bills with cash and not promises of future receivables or tax credits.
The CEO has a long background in running mining projects. That's nice. It's also nice that big producers like Agnico-Eagle and IAMGOLD are backing Alexandria as part owners. Let's see if a future set of 43-101 reports on 2P reserves justifies those big firms' interest in these properties.
Full disclosure: No position in Alexandria Minerals at this time.