Edison Investment Researchhttps://www.edisoninvestmentresearch.com/research/company/true-north-gems
"A key risk to our valuation is that TGX still has to source sufficient off-take for its products. While the agreement with Chinastone goes some way to removing this risk, further off-takes are needed. The overall gemstone equity market has seen a rally consistent with its mining peers; as long as gemstone prices mirror this market rise, we expect TGX to be able to acquire new off-take partners to take all of Aappaluttoq’s material. TGX has engaged Endeavour Financial to help advise it through the commissioning phase and into production and will ‘assess and execute additional financing’ to help boost TGX’s working capital."