RE:Minago vs WisconsinYou need to read the company presentation. There is a 3 phase plan. Phase I has just been completed but needs sales to provide cashflow for the other two phases. Phase II has just been started with the land options. Phase III is getting the nickel mine financed BECAUSE they have a secondary source of revenue thru the frack sand overburden at Manago.
The presentation admits that Wisconsin sand is superior to the Minago frack but Minago is still high quality sand and closer to certain customers so freight savings and NI mgmt could use price to ensure sales.
Since the financing of the nickel mine and ANY mine at this time is very uncertain, they used the language you quoted.
Mgmt has executed on their published plans very well. It all takes time. Read the plan.