Ann: EQR revises funding approach for Mt Carbine expansion, page-10

Come on Plonka even Scootm admits this is a set back.

It was EQR that has not been able to complete the deal and after many extensions QIC changed the terms and EQR put up the white flag and walked.

As a result the plant expansion is now push back to a estimated middle of next year. I am guessing that is because it is subject to getting funding. Drilling underground???

I said at the time the QIC was not cheap, but how much is the delay in get production up to get into profit costing.

Also the QIC deal was for $20 million not $12 with the Elmet / Sqaure cash going essentially going to fund the ongoing operational losses you can not compare costs until the raise the $20 million.

Will be interesting to see what effect this has on the TMG deal. They are going to need north of $10 million to fund it into production.

Regardless of others, the miss here are starting to really add up.