RE:RE:RE:RE:RE:RE:RE:RE:RE:AmazingI think there is some confusion here. I took issue with two ideas,
1. That the PP was to raise money for the performance surety bonds required on pg 6 of the Florence groundwater permit. Again. Those doe not require that the company put up that amount of money. Usually they buy and insurance policy to cover. I do not see that as adequate reason for the PP. NF and I are in agreement on this. In fact, based upon everything I have read NF does not see a good reason for the PP--hence his frustration.
2. I disagree that the cash could have been raised through cash flow on Gibralter. That MIGHT work, but with potential Covid shut downs, copper price unpredictable, and the need for operating funds, engineering, and a JV partner all urgent, it seemed unwise to management. NF believes a little patience and building up cash might have been a better alternative. It certainly might have worked, but I am not sure. I guess we disagree about the risk.
I think we all agree that the PP could have been done differently to protect present shareholders. The suggestings the NF makes are interesting ideas.