Here’s the math:
-> No one up and decides to leave a board position. It’s free money.
-> To me it’s a given that Gensource asked Mike Mueller to leave the board, just as Gensource is asking others to leave the board.
-> You don’t open up multiple board positions unless you know how you are going to fill them. In this case, Gensource is plainly telling us how they are going to fill them. The additions will be “associated with the financing of Tugaske”.
-> Mike Mueller is a finance guy, so he is the obvious first choice to make room for other financiers.
-> There are apparently multiple board members being brought in to represent Tugaske financing. To me this implies big money isn’t just looking at Gensource. I believe they have decided to fund and have thus requested the board get slimmed down so their representation is more meaningful.
-> Gensource is also taking “additional steps to strengthen its overall team”. This suggests to me that GSP is also hiring to help with the Tugaske Project itself, a sign that interim funding for the initial cavern is on its way.
-> You can wait for the done deal announcements if you like. Nothing is final until they sign on the bottom line. But these are some pretty big clues that Tugaske is likely getting financed.