CEO must be very confident that debt financing and equity raising is close to complete.
USD $118m for phase 1. 33% completetion however most costs are initial setup so i assume they need $60-70m debt finance + equity raising.
this is a small number compared to many development projects that require 500m to 1B.
i am confident they will get through this in the next 3 months. sp will be back 80c level.
Ann: Quarterly Activities and Cash Flow Report, page-8
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