RE: Update !This is excellent news - Kudos! Clearly they must believe strongly in their ability to do the financing or they wouldn't put it out there and create these expectations. I was starting to outline my next blog post in my head and they've written it in a press release!
Notice that there is a flow through component ($1.5 million) and a hard cash (non flow-through) component ($2 million). They clearly have someone lined up to take the private placements. Their estimates are they they only require $1.8-$2 million for drilling, leaving $1.5-1.7 million for "scoping of possible mining scenarios and economic viability of the identified resources... the surveying of the surface infrastructure and environmental baseline studies"
Lots of work ahead for them to write a complete offering prospectus for the debenture which will probably take them some time to get through the regulatory process. Good to see they are planning on using debt to finance capital expenditures. I assume they must have an agreement in principal for some amount of the debt financing or they wouldn't undertake this effort. The large size from $5-20MM seems to tell me they're getting ready to go beyond just a bulk sample.
Nice re-presentation of the numbers and comparisons from the past.
One note I think there is a translation error in the press release. Ithink "immobilisation acquisitions" should be read as "capitalacquisitions" in the English version.
It all comes down to EXECUTION now. Can OX make things happen on the ground and in the board room in a timely fashion.