RE:RE:Les Affaires articleLet's do the math. Here are my thoughts:
It costs $341M for phase one (article mentions 40% capital and 60% debt)
--this means $136M capital and $205M debt
--if HELM signs up for $85M (I'm assuming that's capital)
--this leaves $51M left to raise in the open market (at $1.50 share = 34M shares to be issued)
This is just quick math, but it conincides with what JSL and JFM mentioned (that there are issuing minimum shares for phase 1 financings). I believe the number thrown out before was up to 50M shares (if I remember correctly)
This also assumes that CRE is able to secure debt of $205M.
Last thought. If CRE issues let's say 40M shares, we are roughly at 200M shares outstanding. JFM said he wants to make this a billion dollar company. That means this will be a $5 stock (minimum). Now let's stop talking numbers and start executing. The article mentions construction in the fall of 2018!!! Which means financing has to be concluded by the summer of 2018.