If STAGE 2 is ONLY 15m...let's say 20M to be really conservative. then I honestly don't see STAGE 2 funding as a big deal as Jerko can issue 8-9M right now and and broker would be happy to underwrite a small amount like that. The rest could come from S1 sales and a another SPP.
So that can only mean the all the funding take of actually for STAGE 3.
Ok...so
STAGE 1 CAPEX was about 2M+ (150 tones) profit margin 50%
STAGE 2 CAPEX is about 15-20M+ (1500 tones) profit margin 60+%
STAGE 3 CAPEX would be 60-70M (6,000 tones) profit margin 65+%
Folks...if this basic math is correct...that's not a lot of money to be raised based on the profit that will be pulled out.
STAGE 3 to me doesn't seems as big and scary as it was before. CAPEX for STAGE 3 is equal to our current MC.
You take the profit on STAGE 3 and apply a conservative PE of 10. You have a MC of 300M
If AGY is asking for money...shouldn't they ask for 100M to get to 10,000 tones per ann?
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