RE: DewlayIt's not a huge amount of shares outstanding.
Remember that the company also owns 65% of the shares.
If we assume CUU does not get taken out:
I don't imagine more financing will occur until the summer when the feasibility study is done. that's when the clock starts to tick on Teck's decision to earn back up to 75%, take smelter royalties or get $1m worth of shares.
Well ... I guess that's more like 120 days after the bankable feasibility study is done.
Until then there is no need to drill and so no need for more financing.
The problem is that everyone on here assumes Teck will earn back the full 75% given the choice.
However they don't have to earn any of that 75% back or they can earn either 20% or 40% interest.
It will be up to teck to decide withing 120 days after the completion of the BFS.
pg 18 of the presentation is essentially saying that the immediate goals are in this order:
1) updated resource
2/3) file environmental assessment by end of june
3/2) finish BFS by end of june
4) Drill to expand deposit
5) explore where no man has explored before.
So probably not until June. But then .. I don't know when the G&A is due and things like that ... if nothing happens and they don't have much money they may need to raise cash to keep the lights on. Who knows.
Regardless ... UNLESS there is some kind of bad news with the resource ... I foresee a win-win situation regardless of teck's decision.
Good luck