GREY:FNKLF - Post by User
Post by
mcuglyon Nov 05, 2010 11:18am
477 Views
Post# 17663863
Questions
QuestionsFrom the Aug 25 news release:
William Anderson, President and CEO of First Nickel, commented, "We are very pleased to establish a relationship with two of the world's leading banks. Both banks understand our business very well, and have long-established credentials in mine finance. In view of the recent period of reduced credit availability, I view this step as an endorsement of the quality of the Lockerby Depth Project, and especially our operating team. It is a significant milestone for the Company in structuring a cornerstone financing package for its capital plan. We are working on another financing initiative which we hope to announce very soon, and which together with the Facility leads me to believe that we remain on target to begin construction of our Lockerby Depth Project in the fourth quarter of the year."
Questions:
1. Are these two world leading banks still on board? If not then what has given them cause to back out.
2. Is the other financing initiative the $5million bridge loan or the prospectus or both?
3. Are they still on target to begin construction?
4. What time frame are they looking at to sell 165 million shares? Unless institutional investors get involved it will take a lot of retail investors and time to complete the prospectus. This would delay any hope of beginning construction this year. JMHO
I e-mailed the company 3 weeks ago and have heard nothing. Not impressed. GLTA longs.