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Thanks for clarifying, I personally think we are not even close...

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Kokomo97

635 Posts.

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29/05/21

18:21

Post #: 53510510
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Originally posted by GT55: ↑

I didn’t say it would take $9 million to upgrade. But it seems people think (and not just here) you can start a business with no cash in the bank.
They will need about $5 million in cash, most likely most can be borrowed (maybe) to start operations against future cash flows, staffing and inductions and equipment cost of stripping pits insurance mining licences. Do you get the picture? You need to employ a lot of people and have cash back up to start this as commissioning can go on for weeks if not months before things start to run properly. Funny thing about contractors they want to be paid mate!
The day it starts is not the day it makes it’s first profitable dollar that may not happen for more than a month or two.

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Thanks for clarifying, I personally think we are not even close to commissioning the mine. They will need time to upgrade the mine and then test it all works and then seek approvals before they can start mining again. As you said the commissioning will take time and dollars, this will not be cheap.

DDD Price at posting: 0.5¢ Sentiment: Buy Disclosure: Held
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