RE:its startingGood progress with the plan, given the wording of the announcement I think management are now more or less convinced that they need permitting first before they could sign a binding sales/off-take agreement, however they are not sure if they also need financing before an off-take could be signed. Its the egg and the chicken issue. Off-takers would prefer for the project to be fully permitted and ready to go (financing in place) before committing into buying the product, while the company prefers an off-take in order to negotiate a financing agreement with good terms.
The good news is that the recquired capex to start producing is low and they may decide to make a sacrifice and dilute the company at 50c - 80c to raise 2M$, and build sales from there. Its a risky approach, but if no off-take without financing, there isnt another way to do it.
onetimer wrote: Files Preliminary Economic Assessment for the Silicon Ridge Project Chooses Baie-Saint-Paul based Enterprise Jacques Dufour et Fils as Contract Operator To start initial stripping on the Project in late July, for permitted surveying of the deposit Remains on-track for Production this year, but requires Permits this summer, complicated by a recent work stoppage by Engineers inside the Qubec Government