burning through shareholders cash, page-8

Riderx / SpecialKKK,

Agree with your thoughts....

Hedging will definitely be a requirement for obtaining financing though. I would suggest they would have to lock in >50%, which at time of writing had a 1 year price of $1436 on the gold futures market.

I don't know how much my judgement is clouded here... I really want them to succeed. They have a viable mine. It's worth at my best guess around $150M+, which includes interest at 8% and allows time value of money. Any more gold they find will leverage up the project value (riderex, the capex doesn't go down - it stays about the same (or goes up a little bit). But more gold throughput or a longer life drive up the NPV. Once the infrastructure is paid for, it's all money, so it's leveraging in that way..) It's in a stable country, and it's technically simple enough.

I think the only real impediment is the availability of financing. And I have no idea how that'll go in this market. My gut isn't good. Definitely be some single malt in the mail to Mr Stone can pull it off....