RE:Why JVBlueBee wrote: Just asking the basic question. If the company has the funds (or will have the funds as construction procedes) to complete Florence, then why would the company pursue a JV? Maintaining some cash reserve for Gib.? Partially funding YH or NP or etc.? These reasons have been proposed several times on this forum, and there should be a fairly simple and straightforward answer. If asked, would Brian or Russ be likey to provide a simple, straightforward answer? Will we get the answer at the next CC?
Brian answered this directly in the zoom meeting. The primary reason is that it that they need $80 million more and waiting to get that through Gibraltar cash flow is could slow down the process. His main reason was that when a JV drops $80 million for say 10% ownership it signals to the market how valuable the company really is. He saiid the market is really only considering Gibraltar in present evaluation. If 10% of Florence is worth $80 million to an investor, the shouldn't just Florence be priced at $800 million by the market. They think adding a JV WILL INCREASE SH VALUE. This is the first time I have really ever heard them express any kind of plan for increasing shareholder value.