RE:RE:RE:warrants and optionsHad watched for few months and thought Nov 16th NR was a trigger to invest. Still, find understanding the local elements a little frustrating yet their plans seem very straightforward.
Just a few points here.
The financials state the warrants are 'unlisted.'
All options are in-the-money average about 60cents. 2.3MM vested out of 3.2MM granted.
Not much in way of loans and not payable except working capital til 2022.
Takes one heck of a time to go from application to grant for the licences and permits but they do say the intended development of Mine Pits 1 thru 3 is from cash flows (maybe? maybe not? but it likely means any additonal funding might not be large in relative terms)
Mine Current Approvals to mine Pending
1 233,000 0
2 200,000 25,000,000
3 49,800 2,500,000
Totals 482,800 27,500,000
They state Phase 1 target 600,000tpy so lots of room from 9mos prodn level. Still, Q4 is seasonal low I believe for sales (might be $2MM- $3MM.) I see no forecast...anyone? Probably good at this sp for a while save any stated operating risks occurring.