Doesn't the quarter end 31th March? It's been 18 days of the claimed 30 days by end of the Month for sealing a loan deal so I won't worry until after Mid April you can only hope the directors have done their due diligence or really do have the 10.5m euros in the bank. I took a punt and bought a small parcel of .5m I'm hoping they get the finance over the line it seems that the funding will make people believe it is going to happen and should see a nice sp spike. There figures don't quite stack up on production they are hoping Lacerta are processing 60000t of tailings for around 9000t of 63% Fe Magnetite within 3 months it then goes on to say 100000t within 12 months for 15000t concentrate which is a 15% recovery. There end maximum output was 250kt processed for 60kt concentrate which is a bit high end as with a 15% recovery they'll only get 37.5kt concentrate per month either way though at a $55 profit margin it's $2m a month for potentially 7 years which is a lot of time to prove up their gold / silver resources. After the funding there's not a lot standing in their way IMO hopefully Mr Market agrees :)
CDB Price at posting:
0.5¢ Sentiment: ST Buy Disclosure: Held
