ML is a division of Bank of America. GS is a completely separate entity to SS. Now they might do lend and borrow of each other. We don’t know.
@Noworriesmate if they burnt through $10m cash last quarter and they have $54m left that’s more than a year of funding. Given that Chalice did the enormous amount of drilling and then the massive MRE and I think the last CR was in 2020 and we used up $66m in a year and half. Thats pretty impressive. Funds are used wisely and we are not cash hungry yet.
About mining and needing money for that well that’s abit further away to be honest and I don’t think they will be looking for equity raise from us to fund that. Debt funding or JV with one of the major is quite a big possibility. But that’s for latter in my opinion. DFS sometime in 2024 and possibly CR when market sees the numbers in DFS and can value it properly. Then we can talk about building a mine and the cost.
ML is a division of Bank of America. GS is a completely separate...
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