From the announcement: "Preliminary scheduling indicates developmental and operational milestones are on track with offtaker requirements."
El Pachon is a BIG project and it is only at the feasibility stage. If the project gets the green light, I'm guessing that it would take XStrata years to start producing, I think I read 2016 somewhere. Of course, they would probably require power during their site establishment phase, so 2015 perhaps?
"Opportunities for additional funding of the power plant under discussion."
I'm guessing this is funding of additional wells. From memory, the IDB are only paying for the plant, not the drilling. So, $210m for plant, $40m for for drilling four wells. Additional three wells required? Torey's looking for an extra $30m which he will get. Total cost of project = $290m. Round it up to $300m.
Market Cap only $11m. What a joke this market is.
EHR Price at posting:
1.2¢ Sentiment: LT Buy Disclosure: Held
