I cannot see any real debt funding being approved while the quarry/tailing are burning so much cash.
They committed to purchase the quarry and refurbish the re treatment plant 2 years ago.
Since than they have spent in the 10's of millions of dollars and could only produce 1/2 a million dollars in quarry/tailing revenue for the qty and needed to spent multiples of that to produce it.
I take it Cronimet have been pushing them to keep producing what they of they can, so they can sell it. Because it look like they should have suspended the tailing re treatment 6 months ago and applied the money to the upgrades and or drilled some gold holes.
EQR Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
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