TSXV:FCO.H - Post by User
Comment by
focsleon Jul 11, 2012 2:04pm
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Post# 20103146
RE: The mine
RE: The mine Grizz-
Maybe Abe will chime in, although in the summer time he gets busy. There is scuttlebutt floating around out there some where.
I might guess though, and that would be not much. Money to work the mountain to a large extent is tied up with the bonds and there are rules involved with the expenditures. Since the "rest of the money" is still in limbo, can't really spend that bond money. Wouldn't want to have to pay the US Gov't back if things should things go south in the end.
This from another BB on FCO posted 7/06/2012.
I called investor relations who informed me that they are actively seeking the balance of the financing needed to complete the project. They were very excited about their facility that is now approved to deliver gold and silver to the Comex. They said that it took 5 years to obtain this Comex approval. They also pointed out that they are in a good cash position and that the cobalt is still in the ground.
They did a nice video, but until they get the financing there won't be any pop in this stock price. Maybe a major can buy them out and finish the project with their own funds?