Only problem is they havnt paid the vendors for the project yet. They need to pay around $3million every 6 months (until the $12.6million balance is paid down by Dec 2016). The next payment is due in July 2015 around the $3 million mark. They will need another capital raising in the next few months if they want to continue with the development of the project.
The dilution is a big concern given falling share price. Would love to see the project purchase cost paid in full by RCF to de risk the project. The market could then hopefully focus on the drilling results with smaller capital raisings required thereafter to continue with the development.
GPR Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
