Hi Rob, remember it will only cost $1M for the company to exercise the Option, which they have that cash on hand to exercise it. Can't see how they will forego this. They could technically exercise it, and continue to search for Strategics post this to atleast secure the Renard option, which would make Winsome more appealing. In the mean time, they could access other sources of cash from the non core assets/Power to assist with the C&M. It will be good though to hear more about the cold C&M Costs. The moment they allow Renard to lapse, removes the pathway to production for Adina and provides more uncertainty going forward which I doubt they will do seeing as they seem firmly committed to drive Adina forward going by the latest update. Renard lapses and that is a complete failure from management.
WR1 Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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