The Mine Plan$6 mill is a short bridge to take. The cash needed to complete the Gib 2 expansion, that TKO has already spent $250 million out of cash flow, to rampup to maximum production to get to $1/lb on the cost curve. They are laying out the lines for the previous $30 mill line of credit that they have access to backed buy the concentrate purchaser. There is 9 months of ore stored at a 1:1 strip ratio, the industry standard is 2.5 tons of waste rock to 1 ton of ore. The $19 mill shovel,already paid for that will move that 1:1 to a state of the art facility. Name one copper miner or gold miner in Canada that has 10M OZ Gold proven property as colateral to a 35 year Gib lifespan. The SP does not make sense.
Still would have liked to have had a chance at the financing. No mention of any investment house or who offered up. 6% commish paid to somebody.
Good to have real miners like Russ aboard that cut there teeth with Cominco.