I say let's get the 30 million from wherever it needs comes from. Pay out Coris and other creditors say 20 million and with the change get this baby producing it's 8,800 ounce per annum as stated under the new plan. Given that the project will now have a revenue stream so to speak, getting the ASX of our back should be a piece of cake, Just, watch the share price skyrocket then!
Also, once MGO is producing the 8,800 ounces p.a it should be a lot easier to borrow the next 40 million to get the new plant's up grade equipment currently sitting all around the world and anything else need, including a few spare parts to the site in order to get our original plan back on track. Operating at full capacity 50,000 ounces. This additional 40 million should also cover, all beit for the odd capital raising now and then, the labour costs of upgrading the new plant and the commissioning of it, the normal operating costs sustained whilst waiting for the 3 months of ROM to be stockpiled and any other development costs not yet known.
All in all, MGO should achieve full capacity production producing 50,000 ounces p.a sometime before the end of 2021. Subject to the mining contractors getting their act together and any other unforeseen events.
Once the 50,000 ounce mark is reached, then the sky is limit for BSR. Having the millions more available to be spent on further exploration and development costs of it's existing tenements. As well as a planned quadrupling of the existing plant's capacity to 200,000 ounces p.a.
Optimistically this could all be achieved by sometime in 2025. Just watch BSR's SP go then. Who knows, $5, $10, $20, $50 $100, $200 the sky's the limit. It is only a matter of time.
My forecast here re the future for BSR may be a little broad and sketchy, but like me, you are well practiced in reading this format and should have no trouble getting the general gist of it. So no questions please. .
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