Eagle costs and market reaction todayFeasibility Study cost estimate: 370M canadian dollars (initial capital expenditure). NOTE: this is a revised FS, not a PEA or a PFS. VIT paid a lot of coin to the engineering firms to come up with a "bankable FS".
Financing: 398M (US dollars) or approximately 505M canadian dollars
Pre-financing funds spent against the project: 38M canadian dollars (2017 Phase One construction activities)
Estimated capital required to finish construction: 487M canadian dollars (including the 30M financing announced after market close yesterday).
Total project construction costs: approximately 530M canadian dollars (VS. 370M specified in revised FS). Yet, they claim they are only 10% over budget and a lot of people are saying "that is not too bad"...
Will there be another financing later on this year??? They say no, but I would have hard time believing what they say based on what I have seen in recent weeks. Time will tell...
GLTA