Time will TellI am glad that the over allotment was filled. Cline has about $81 million from financing, plus about 4 million presently in the bank, so, with $85 million- hopefully we get to production.
I have lost alot of faith in mgmt, but have read the 43-101, which includes a PEA and am ok with the numbers.
Still has some obstacles to overcome,
- approval of permits for rampup
- sales contracts
- need to get equipment and employees in place
Call me a fool for believing, but i cannot see how the latest equity issue was completed without T.D. and the others not doing there due diligence.
Also, can Bates and company be either that stupid, or that crooked, to go out and lease property in Corpus Christi, go out and hire a sales mgr, go out and spend as much as they did so far, without there being en economic mine.
I am not adding to my position, but am not certainly selling at a loss either.
Time will tell. October is not too far off.