Lest we forget.
Let's not get bogged down in the narrow viewed pessimism or get distracted by nit pickers mis digesting information that they have read from a few publicly announced paragraphs. The scientists in the universities know because that's what they do 9 to 5.
FGR will be a debt free producer, whether it's in a week or a month is insignificant. What is important to keep in mind at this major milestone is that unlike other miners, FGR didn't need to borrow capital from financial institutions to debt finance to even build their mine(S). Producing with no debt! FGR didn't have to sell its soul, bend over or give away its equity to those institutions. FGR has built its mines on the back of mum and dads, this is a little battler achieving results despite the challenges. Those financial institutions will come, by then we'll dictate our terms.
What that means to me is as soon those sales contracts and royalties are signed it's all profit and growth, no interest repayments, truly all blue skies. Not $5 million debt, not $50 million debt, not $500 million debt, no debt and the associated interest repayments hanging over its head the next 5, 10, 20, 30 years. Compare that.
BTW, FGR owns 100% of its mines, not 40%, not 80%, yes 100%.
The pay-off is coming, for those willing to see it...
GLTA
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exciting, appreciate this important reminder said like this . Wow . Goodluck to all shareholders .
