VVC Resources (TSXV:VVC,OTCQB:VVCVF) is fully funded and focused on ramping up exploration work at its Syracuse helium project, according to the company’s chairman, Dr. Terrence Martell.
“We’ve identified eight wells that we have drilled. We need to finish those wells, and the money that we have in the bank now will allow us to do that,” he said.
The company recently achieved a cashflow-generating milestone and received US$5 million in funding from the sale of a small portion of its ownership in Proton Green.
“We are all aware that — all the good tests, all the good data and all the good thought that goes into something — at the end of the day, unless you put that on the ground and out comes gas, there’s a risk,” Martell said. ‘We’ve mitigated the risks by spending a lot of time and a fair amount of money on analytics that will increase the probability of going down 2,500 feet and finding something.’
Watch the full interview with VVC Resources Chairman Dr. Terrence Martell above.
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