I listened to the presentation, my take-aways from someone who...

I listened to the presentation, my take-aways from someone who doesn't know a lot about mining but still has ears:

1. The MRE was never going to move the price, real next goal is Q1 2021 which is the feasibility study
2. They will need 150 million to carry out that study, looking at CNs or even "just debt" but anythings on the table here
3. NM made a strange emphasis around the cost of consultants they're now hiring etc are in line with the perceived value of the project, not the company value.
4. Mining still planning to be started sometime after 2025

My concerns:
- Does (2) involve CR?
- I would hope he's not mates with the guys doing the consulting etc in (3)
- This is no short-term stock, it's still 2025+ before cash is coming in

Sorry, I see no way that a company with no money coming in for 5 years, with a confirmed 150 million expense, plus 20 quarters of admin fees, is a good investment at the moment.