GREY:SGGDF - Post by User
Comment by
bodybuilderon Jan 08, 2018 12:20pm
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Post# 27306945
RE:The Latest Clavos Gold Mine Up Date is Overall Good News
RE:The Latest Clavos Gold Mine Up Date is Overall Good News Sorry but there is little to know good news here, that's why they released it Friday night.
What did i get from this PR
1/They require more money... AGAIN!!!!
"the Company is also actively sourcing equipment financing for new equipment purchases and for the necessary additional working capital".
"Additionally, the Company is now in the process of completing a new Mineral Resource and Reserve Estimate and Pre-Feasibility study at Clavos incorporating the results from surface drilling from east and west of the mine (news release May 10, 2017) and underground drilling within the mine infrastructure."
I asked the company if they were going to release a new Ecomonic report no less then 18 mths ago. The reason for asking was the time and EXPENSE associated with producing one. This was not part of the original plan. The idea was to show the market this project works by making money. I don't know what this report is going to cost but I will confirm they don't come cheap. What happens if it doesn't come out with favorable numbers???
2/ Now the market is 100% aware they require more funds. The share price is not going anywhere. Flow through season is over so Private Placements below market price is the norm. Debt financing ??? Probably to risky for the lender and Sage.