$60 to $80 Million Needed To StartIt looks like Integra has enough cash and Eastmain Securities to operate to the end of 2017. Stephen stated in the Denver Video that $60 to $80 million is required to start production. If the SP is $2 at the end of 2017 then 30 to 40 million additional shares would need to issued to start production unless they can swing a bank loan. That's 6 to 8 percent dilution which seems reasonable. Of course management will get stock options between now and then but that shouldn't cause much dilution.
Listening to the video for a third time it sounds like the November PEA might be for 8 years with Triangle providing 100,000 - 110,000 ounces per year with the other deposits providing some additional mill feed. I previously posted an estimate of 150,000 ounces per year for 10 years which is too high based on Stephen's remarks. Looks like around 120,000 per year for 8 years. Still, the AISC should be much lower than the last PEA based on the use of long-hole mining techniques. NAV will still be well over a dollar per share.