RE:RE:RE:RE:RE:RE:exercise of all outstanding warrantscompaq,
I would say that the estimate cash of around $100M looks great, but some of the money is already earmarked for things like
- ER investment, $6M for 10% plus a few more $M for an option to increase to 15%
- current on-site infrastructure upgrading, Ramp to Triangle and /4 Plug, and the new road to Sigma Mill
- the drill program for 2016 ($)
- drill program for Lamaque Deep and other targets in 2017 ($)
- revised RE for Lamaque South ($)
- PEA ($)
- plus whatever else (e.g. buying neigboring properties for potential ore deposits to feed Sigma Mill).
They should have more than enough money to go right through 2017, with some spare change.
But, to start the production, even at 100,000oz per year, would require additional funding, either by going to the bank or taking in a deep-pocket partner. See May 2016 Corp Presentation slide 25 to have some an idea of the money involved (not bad a CapEx, but additional financing would be required).
We just hope that ICG is not taken out too early. The concencus seems to be that the longer it can survive the higher the value it can fetch from a suitor for shareholders. The $64K question is how long can it survive (6 months, 1 year...)
GH