Hi King,
Agree that this news is not great. IMO it’s not “bad” from a project POV. There doesn’t seem to be anything fatal in there. Instead, I read this update in light of comments made by MD in the Crux interview (last November) which was done ahead of the AGM vote for Strategic Metallurgy royalties. Very bad look. That whole set up does give a cautious investor many reasons to tread carefully.
On the CR front - I think it’s worth remembering the Acuity facility. Looking at cash balances it seems possible that $1m - $2m might be needed to keep lights … but at the moment I cannot see a CR in the way we normally think about it.
Thoughts?
Go the slow ‘pus
A
Ann: Helikon 4 shaping up to materially extend Phase 1 life, page-35
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