RE:2022 production, 2023 guidance Drhoho said: “(2) announcing the TiO2 project on hold with the possibility, if it is approved to proceed at some point, that additional debt financing may be added to LGO's balance sheet. LGO has touted itself for some time having an ongoing mining operation that is debt free or carrying minimal debt….”
With regard to the TiO2 pigment plan, although the postponement is new, the estimated CAPEX (Phase 1: 96.3M; Phase 2: 59.8M; Phase 3: 132M) associated with the project has been available since Dec 2021. It is obvious since last year that the funding can only come from debt financing, equity financing or a combination of both.