Powertech is trying to get permitting for an ISR project in S Dakota in the US. Like Anatolia, Azarga was an investor. Powertech will be the survivor but Azarga shareholders will hold most of the company. Powertech will have the $2million in cash that Azarga holds plus some room on a debt facility.
Will still need to get financing if they get their permits.
I hold AEK.ax and PWE.to. Liked both projects because they were ISR and should be low cost producers. Both were way undervalued compared to US based ISR producers.
Hopefully Powertech will still help AEK.ax get their financing when needed. AEK.ax has said they only need $30 million capex to build their mine but it always turns out to be more.
AEK Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
