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Deals For Drills

Benjamin examines the Memorandum of Understanding between Aston Bay Holdings and Lyncorp International to purchase drill equipment. Benjamin justifies the decision by explaining how we are currently at market bottom; right now, it is cheaper to buy a drill and the needed supplies than it is to rent-to-own. This helps with cost control and will allow for a more efficient drill program. Benjamin notes that he does not recommend every junior pursue a similar deal, but since Aston Bay has a director with previous drilling experience, it makes sense for the company. Lastly, Benjamin believes it is a good deal because the drills were obtained at a heavy discount and paid for with shares, allowing for less dilution than would have occurred if they were raising money through a private placement. This not only puts Aston Bay in a good position for when the market recovers, but allows for the copper junior to be turning drills next summer while other juniors can only make potentially-empty promises.