RE:UpdatesLeft a message for Paradox yesterday afternoon. This morning JFM called back (just got off the phone with him). Here are the key points from our 12 minute discussion.
--everything is progressing just fine on their side (they are still on course to meet the 60 day HELM agreement), but don't be so focused on this. It's not a brake-it or make-it 60 days
--CRE is getting lots of phone calls from investors and also from the lithium market (for their products)
--CRE is in discussion with banks and investors at the moment. Even though HELM agreement/financing comes first, they are working on the rest of the financing
--he mentioned there are lithium companies out there that have much greater market caps then CRE, that have had their FS out for more then 2 years, and that are still not financed (ask Blaggers....I think he made reference of this in one of his previous posts).
--full commercial production is expected in 2020
--they are focusing on the lithium since it's around 95% of the project (tantalum is only around 5% but it's still a good source of income/revenue)
--phase 2 of the BFS is expected in the summer of 2018 (June?)
--phase 1 is where you make the money
--$180M EBITDA (over the 17 year mine life)....which makes you wonder how a company like CRE can still trade at a market cap of $230-$240M. Ummmmm, let's just say they are building a billion dollar business.
Yes, it seems like there are delays but think about it. They are building a company (for production). They are not building a company for take-over. If they were, then they would have done the financing by now. They would have done a lot more advertising/promotion, etc. They would be more visible and they would sell. But they are not. They are doing everything in their power to make this a producing mine. It takes time. This whole last paragraph is all my opinion.
I encourage ALL investors to call Paradox (or JSL/JFM) and get an update for your piece of mind. As for predicting the share price for CRE, it's like predicting the weather 10 days from now. Good luck.