RE:RE:RE:we missing something?Just a thought as to why they might be raising so much cash:
We know the plans for this year are to drill and produce a 43-101. Is it possible that they might be thinking of taking a bulk sample within the next 2 years? This could take time, as they will probably need to construct a declining ramp.
The bulk sample will be needed for a BFS or PFS. Dav said they were undertaking metallurgical tests on the core samples and this will also be required for a PEA/PFS.
So a rough timetable could be:
1) drill and 43-101 RE in 2018
2) PEA and more drilling in 2019
3) infill drilling and update RE 2020
4) Bulk sample 2020
5) BFS and in to production 2021
A takeout will happen before 2021, don't know when, but every step up until then will add value to the company and make it more of an attractive target for a major.