The 10 million dollar question is, what the heck do they plan to do with 10 million raise? The holy grail for this company is the BSP. Information surrounding the status bulk sample extraction on the company AGM presentation notes that they intend to bring the sample to market in 2017. Considering that the target area is currently covered in snow and any road construction could only begin in spring (Your fall) 2017 this is an ambitious plan. Based on past performance I don't think this is realistic.
According to the company AGM presentation, the bulk sample will need road access from the Mine site to the rail head at Minaret (How much is this going to cost), then transport the coal south to Ridley terminal (Port of Prince Rupert), then construct a road route to the Port of Stewart (No idea why you wouldn't load from Ridley, which has excellent coal handling facilities).
ATU AGM presentation can be found at:
http://atrumcoal.com/wp/wp-content/uploads/2016/11/01799777.pdf
If anyone has any idea of the bulk permit extraction plan, how much that plan is going to cost and how Atrum Coal intends to fund the plan that would be most helpful to many on the board.
You know things are going south when people are actively interfering with the information flow that would enable others to make an informed decision. Retail investors are at a significant information disadvantage and forums such at these provide an excellent mechanism to bounce ideas and information off each other, keeping in mind we all have different motives and ways of expressing our ideas. Thankfully I am not easily bullied.
I seem to have hit a nerve though with road building costs though.
(20min delay)