Am i reading this correctly? WCU has agreement with a local uranium mill to start processing their ore next year? after they have built up a substantial stockpile at the mill? They are currently contracted to delver 10,000 tons of ore with a head grade of around .34% or about 68,000 pounds of uranium. Assume they collect about $30 pound after processing costs from the mill they get around $2,040,000.
They have about a $1,000,000 in the bank so in total they have about $3,000,000 AND no revenues for about a year. How do they finance the production of 55,000 tons of ore to send to the mill? during the course of the current year?
Technicals look awful, support levels crushed, options expired and now well out of the money. What a mess?
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