RE: NR today Yep. Looks like they want to get a FS done this year... the only problem is hafl of their remaining cash as of last financials was their HTR investment , which is so illiquid that reporting it as cash is purely academic.
Enough cash remains to see commitments through the rest of the year, but if they want to fast track a FS I don't know if the money is there. The $4+ million would have taken the company well into 2014, perhaps when we're not in one of the worst junior markets in decades and Zinc is no longer in oversupply. Instead the company may be forced to raise this year.
If there is an equity raise, I hope it's non-brokered and Teck takes all that is offered. They are the natural suitor here once a FS and permitting is complete.
If Teck isn't interested, HDI better deliver some deep pocketed investors so the company doesn't get bent over the table on any future equity raise. How bad a move was that HTR investment with a little hindsight?