GREY:COLUF - Post by User
Post by
GoldSilverbug77on Aug 14, 2013 9:34am
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Post# 21668969
SEDAR -
SEDAR - Below is what keeping me nervours. Taken from the latest SEDAR report
"light of continually changing financial markets, there is no assurance that new funding will be available if required by the Company. While the Company believes that, following the financing completed August 13, 2013, it has the minimum amount of capital required to complete its underground infrastructure development, to complete the dewatering program expansion, and to cover operating losses until initial production, the scale of these operating losses and those during ramp-up of production are dependent on the speed of ramp up, speed of underground development, success of the dewatering expansion, grade delivered to the mill, and precious metals prices at the time of delivery to global markets.
The Company is currently investigating alternatives to strengthen its balance sheet to have further flexibility should other unforeseen circumstances or production delays occur. Any additional capital needed in 2013 or 2014 to fund the completion of development, unforeseen expenditures, and the ramp-up of production will depend on the Company’s ability to obtain such capital through debt financing, equity financing, or other means. There is no assurance that the Company will be successful in obtaining the required financing or that such financing will be available on terms acceptable to the Company. In addition, any future financing may also be dilutive to existing shareholders of the Company."