2.1.2. FINANCIAL CAPABILITY PAGE 6 of 78As a writter in to Arizona State Florence Submissions, received an info package concerning the newly awarded permit for Florence mine build.
Page 6 jump out--
Financial assurance mechanism was demonstrated through a performance surety bond held by ADEQ in the amount of $4,696,000. And through a financial mechanism to be payable to the US EPA Underground Injection Control Program in the amount of $29,772,500. This to be in place prior to the discharge of this permit.
Hmmmm, what an amazing monetary coincidence, almost dead on to what the PP back funded to us.
Looks Like--- before PP, we had approx $73M banked. If we had to fund the above, it would have left us with about $43M banked.
Try and mine build a $230M mine with only $43M cash--- not going to happen without forever financial slavery or JV slaughter The PP protected everything noted here, the PP was a tool used to increase our annual copper production by opening a door to our second mine. And the world class low C1 at Florence makes Gibraltar Bullet Proof.
Tree Shakers, go to NCU. Panty Knotters, try to Trust.