RE:RE:RE:RE: $7.0 Million Registered Direct OfferingRather than starting with a dictionary.....maybe you should start with the facts..... During Q1 2022, the Company continued its successful execution towards a sustainable business plan in which cash flow from operations funds value creating activities, including exploration and sulphide project development.
towards is the key word here....meaning a future accomplishment.
- Successfully completed construction and substantial commissioning of the expanded 360 tpd processing plant. Buckreef Gold was operating cash flow positive for the first time in December 2021. The Company continues to expect the 360 tpd throughput to increase production to 750-800 oz of gold per month1 at a total average Cash Cost2 of US$725-825/oz once steady state processing has been achieved in fiscal Q2/Q3 2022. The larger 1,000+ tpd processing plant is expected to be completed in calendar Q2/Q3 2022 and is forecast to produce 15,000 – 20,000 oz of gold per year.
key words....one month positive operating cash flow....does not even imply a self funding operation. As we continue to expand production in 2022, "we will move" to a position where value accretive activities including exploration and unlocking the value of the Sulphide Development Project, will be predominantly funded from anticipated positive operating cash flow.
The above refers to the future prospects, not the present, of a specific project only.
The current production does make them "self-funding"
Not so much. Comprenez-vous? The fact is there is too little money to fund the costs of its business plan ...required new share issuance (dilution) of 13% taking the OS to just under 310 million.
This fly's in the face of the repeated "financing without dilution to shareholders".
Regarding the above quote, while some want to blame JS entirely, the dilution is also due to the pitiful undervaluation of precious metals and stock prices which must be attributed to the the banksters in your face manipulation of all things economic $$$. Especially since 2008-2010!