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Common sense needed. A loan was made a large premium. Thats...

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farmhouse

936 Posts.

108

08/09/17

09:15

Post #: 27079281
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Originally posted by stoeger ↑

Denzel88, it is highly unlikely that they will have enough money to complete a DFS with the amount of money raised on this CR. A DFS financial model, compiled and audited by the likes of Snowden etc. doesn't come cheap, and if they don't have enough infill holes they tell you to do it and come back again later (all about de-risking the project financially). However a DFS wasn't mentioned in the announcement, but "During the PFS study period, limited exploration drilling occurred due to all our time, efforts and resources being committed to de-risking the Project. Now we have a demonstrably valuable Project as a baseline, and are looking forward to discovering additional economic zinc and base metal resources in the area. Regional exploration success could be a game-changer for PNX.”
So it looks like the money will be spent elsewhere. One can make their own assumptions there, but I take it as they have been told by financiers they don't have the size yet for a stand alone project, so need to keep exploring. From that, if they don't spend money on enlarging what they have, and look elsewhere, that's not a good sign.

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Common sense needed. A loan was made a large premium. Thats pretty strong hand shake.

PNX Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
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