They have a drill program just commenced, a scoping study to complete and a major up grade on the mill and then will need cash to commission the mill and start processing and mining. The latter last items are about $8-9 million?
The mill will be a script for equipment and CR for commissioning if the scope study comes in positive. The last item could be borrowed against future cash surpluses.
My numbers are close I spoke to the lead broker of the company’s CR since early 2020, he is very involved in the company (probably too involved) a few weeks ago and I asked all of the above.
The resource is still inferred only at this stage wait and see what the indicated numbers turn out to be.
Still a bit to do here.
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