tungsten capital raising cornerstone off taker

Will CNQ go to the market for more money or will they cement a cornerstone investor (Offtaker)?

I believe CNQ need to clarify the size of the Mt Carbine deposit (JORC) before a real long term decision on funding is made.
The comment of a “World Class Tungsten Mine” has been made.
The current fully funded drilling results at Mt Carbine need to be added to the 15 October 2009 Scoping study thus producing an Independent report to negotiate an innovative funding agreement. (Scoping Study Link below)

The Late Feb tailing production should generate a EBITDA $5Mil (Verbally Ian suggested higher?). But we still have to send the sample tungsten slurry production to the Mill for processing).

BinBin,
You suggested you were a Dr Leon follower what did he do in Paladen & Deep Yellow?

But per the Quarterly CNQ need an estimated $3.5 Mil to fund cashflow and they are reviewing options.
1 CNQ have appointed a very experienced CEO Dr Leon would clearly have a dynamic plan otherwise he would not have accepted the position.
2 CNQ has a number of other tenements, Gold, Copper, Tin (Tara Drilled), Iron Ore (Ex BHP Drilled) which would need to be analyzed and Spun off or developed.

My feeling is they will go to the Market to raise cash and utilizing the tailings positive cash flow from the tailings the New CEO updated JORC & Scoping study to fund Stage 2 & 3.

Time will tell.

Link worth a read.
http://www.asx.com.au/asxpdf/20091015/pdf/31lc39h2jk81tf.pdf

Please DYOR.

Enjoy the Ride.