That is $11m in cash available to ORE. $53m is committed to SBLC's that can be drawn down on by SDJ SA to fund operating costs of the plant. That is, there is a $53m deposit sitting on their books that is there to fund the lithium plant operations and capital expenditures. I would think $11m would cover corporate expenses and a pilot plant until SDJ SA starts distributing profit to ORE/TTC/JEMSE.
Seems like some here are under the false impression that we just burnt through 70 mil of the CR funds in 6 months. That would be disturbing.
ORE Price at posting:
$1.61 Sentiment: Buy Disclosure: Held
