AMREP Corp T.AXR

Primary Symbol: AXR

AMREP Corporation, through its subsidiaries, is a holder of land, developer of real estate and homebuilder in New Mexico. The Company operates through two business segments: land development and homebuilding. The land development segment offers for sale both developed and undeveloped real property to national, regional and local homebuilders, commercial and industrial property developers and others. Activities conducted or arranged by the Company include land and site planning, obtaining governmental and environmental approvals (entitlements), installing utilities and storm drains, ensuring the availability of water service, building or improving roads necessary for land development and constructing community amenities. The homebuilding segment offers a variety of home floor plans and elevations at different prices and with varying levels of options and amenities to meet the needs of homebuyers. The Company focuses on selling single-family detached and attached homes.

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AMREP Corp > PFS announced

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Comment by roberto146on Apr 01, 2019 11:17am

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RE:PFS announced

Next step financing for the $30 million + to ready mine/mill for production, which requires a few months.
They have to start running by Nov 2018 to meet the completion test by 12/31/19 of 400 tons/day for 30 days (or renegotiate streaming agreement). Failure to complete the test requires about 9 million dollar payment to Wheaton, subject to adjustment proportional to test results achieved.
Production was suspended in 2013; this could be the startup year.

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