RE: newsAs it stands right now this company has a significantly cheap valuation but there is certainly justification for the lack of share price appreciation.
As of March 31st $2.2 million cash in the bank with 8,782,000 warrants outstanding with expiration tomorrow the 17th, I would imagine these would have been exercised throughout this period which could explain recent share price activity.
Situation still stands, there is a deficit and cash burn monthly pushing over $250k. The 20% option was a right move but there is also alot of commitment within the agreement and the original 60%. I do not want to see a financing at these low levels, all that gravy cheap valuation will be wiped clean, however, the advancement of this project is priority number one.
Would be interesting to hear their strategy going forward from here, there doesn't seem to be no easy answer to the cash situation, I would rather see a debt facility than equity, last number I remember for CAPEX was around $18 million to put forward into into project (Full Metal Presentation).