My notes are in the office. But he said something strange. He said they will be unlikely to start production at Marianas until the have the full permits so they can operate at capacity. Fair enough. Then he said they hope to pay the 50% for the other half of Marianas out of the cashflow. Then he said permits might not be complete for 6 to 9 to 12 months. The timeframes don't line up with the deadline for the 50% payment.
Maybe someone else watched and understood it differently.
Meanwhile the coal is sounding very good! A 9 month play this is I think. And more...
CDB Price at posting:
1.3¢ Sentiment: LT Buy Disclosure: Held
