RE:What we Know!givemeabreak1 wrote:
So according to OC first pour is followed by commercial production in September. This is confusing because the company's last news release said first pour is now scheduled for 4rth quarter! Is VIT's 4rth quarter not starting in December? I asked this before but no answer. If it is in December and time from 1st pour to commercial production varies but is often 2-3 months so now we are likely into February March next year. before commercial production.
Now comes another question maybe someone can clarify. Doesn't there interest holiday finish about this same time? If so quarterly catch up payments will begin the next quarter. I hope Nickel is wrong otherwise VIT is going to need to pitch a perfect game from here on in!
The 4th quarter would be October-November-December. VIT always advetised their first gold pour during H2 (anywhere from July to December), with September as the most probable month. The latest news - first gold pour announced for Q4 narrows down the time interval from 6 months to just 3 months. I expect to see the first gold pour in September or October.
The payments will start in two years from execution of definitive documentation for the financing package (April 16th, 2018) - VIT will have no choice but to operate during the winter months and produce a lot of gold during that period of time (which I think is a smart move), as they have to start paying back the debt and loan facilities.
Expect VIT to come up with news announcing they will operate year round.
I hope VIT will have a pitch perfect game from here on, and deliver on their promises.