There is a lot of carry on RE pressure Ron faces to convert...

There is a lot of carry on RE pressure Ron faces to convert options for funding etc. I think those posters are way off the mark.

I firmly believe if LRV drill absolute dusters the next 12 months, the fundamentals of the project will not change.

if you screen the PFS closely and see the reserves used in the study, only 1/3 of the resource is accounted for. LRV have used a conservative pit shell for the infrastructure in place already and a conservative base price / outdated spot price. Once the project is at nameplate capacity they will eventually look to increase stopes to access more material, they are just picking off the easy stuff in the PFS. There has also been no MRE updated to include ANY Red River drilling or the recent 31m / 65 Au/gt hit they had. A revised DFS will see the reserve conservstively increase another 400k Oz Au/Eq. That in itself is value accretion to already outstanding NPV, CAPEX, FCF figures outlined.

As for funding the project. There is no way a capital raise is considered, I am not sure how some have come to this conclusion for circa $75m USD. If they cannot take advantage of government funding, they will likely use a debt facility similar to what DEG is using to fund the much larger Hemi project. The alternative to this, would be an offtake agreement at a slightly discounted market price mechanism.

The missing piece to the restart of the project will be the metallurgy recoveries. This is where Red River ran into difficulties and were producing well under guidance as a result. Should they prove the new plant optimisations can improve recoveries they'll be laughing to the bank and SP will reflect that eventually.