RE:RE:RE:RE:Special Shareholder Meeting Nov 18 I'm a little more pessimistic. I don't assume that financing for the first stage of the ASR is waiting for permit approval. It would be nice if I was wrong.
What I see, is the $6 million dollar interim loan, is being put out there as insurance that there are sufficient funds to get them through the permitting process, BUT, only if it is needed.
It's a bridge loan to buy them time, until the $8 million for 1% royalty receives shareholder approval and is closed.
if they don't use any of the bridge loan, no problem. If they do, it will be paid back plus interest, from the $8 million they get from the royalty.
If the permits are final within the next few weeks, AND they receive financing at or around the same time, they can start building in Q1 of 2020.
If no financing, then another year will be lost.
If that becomes the case, then the $8 million, or what's left of it, is all they will have to get them through another year of kicking the can.
As stated, it would be nice if I was wrong, and financing is waiting in the wings.
bil