With that size of cap raise I'm guessing they plan to progress to 2 shift production right at the outset or as soon as a 1 shift operation has bedded in, rather than stay with 1 shift for a prolonged period like 12 months or so. So the upshot is we go for the big kahuna without too much delay ...ie, 50,000 oz pa. If so, we need the extra cash upfront to cover the extra manning, notwithstanding a 1 shift operation to start with will be bringing in significant $, but best to have the funds upfront via the CR. Same applies to drilling... 2 shift operation in this case as soon as the rig is on-site. No mucking around here, full speed ahead.
VTX Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
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