RE:Re Re Re The Big KeyThe initial capital outlay for the commercial operation is $227 million. I do not know if that is in addition to or includes the $27 million for the test facility. So, the additional funds to go to commercial production are somewhere between $200 and $227 million.
If they have $100 banked by the end of next quarter, they are almost half way there. Of course, they do not want to sink ALL their free cash into construction. Still its a healthy position to be in.
I would think that junior partner would be VERY junior in this situation.
As an aside. The market cap for this company is at $248 million right now. IOW the cost to build Florence is just slightly less than the entire market cap for TKO (TGB). And yet, based upon the Florence production, it is entirely worth it.
It is easy to see why mgmt is so frustrated that the stock in this company is so undervalued.
But the way you get attention is to show a profit. Mining is not sexy like electric cars and sending rockets into space.