Most of the quarterly reads well but I note that existing funding ($9.171M at 30th March) is estimated to last only another 2.3 qtrs, though the Canadian Govt's $5M loan is not accounted for in that. The announcement of 22nd April said the following:
"Reflecting the planned ramp-up schedule of Vital’s Saskatoon plant over the first 12 months of
operation, Vital will deliver to REEtec an initial 187.5t NdPr (contained within approximately 500t
TREO) by October 2023 with the remaining product to be delivered at regular intervals over the
following five years."
That does just make me question whether funding will run out before product sales income becomes sufficient to sustain operations. To a large extent I suppose it depends how much money, if any, still has to be paid on equipment to set up the Extraction Plant. What do others think?
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