RE:Expanding capacity of loan collateral, not mine ops.
Jack...what are you rambling about? You obviously don't understand how this works...so let me try to answer your question in very simple terms. Target operations is 150k oz per year (2023). To get there, they need to expand from heap leach op to CIL (Phase 2). To expand they need to spend money (maybe up to 150million they recently estimated (only a rough estimate pre BFS detailed results)). For that money they will put in some own cash + mostly raise debt capital (loans). Therefore BFS/DFS to show potential lenders what they are lending against. Lenders likey = money loaned = phase 2 built = expansion done = larger production profile (estim 150k oz) in 2023. Hope this helps your understanding. What is not to like about this all? and to your buddy going on about shareholders being 'screwed' that is nonsense...last I checked, insiders/management are hefty shareholders and they haven't disclosed selling any shares. What is not to like about that? Oh and by the way, while the phase 2 expansion is ongoing, they will continue to generate circa 50-60oz of gold per year on the heap leach. What is not to like about that? Institutional holders continue to hold and enter (Fidelity recently). What is not to like about that?