Loki,
Thanks for your feedback. However, I think we are in the same ballpark. My total costs are 94m and potentially allowing for an extra $20m in growth and sustaining Capex costs. So assuming a total cost of $114m, they will still have $51m cash. Again, this is only back of the envelope calcs. I have a far more detailed financial model, but don't have it on me.
i see no reason for any capital raising. the only reason would be if they drastically undeshoot production. If that's the case, a CR is the least of our worries. The bigger worry would be the accuracy of their mining model, and therefore the reserve estimates
.
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