Cornerstone Investor Management states that $20 million may have to be borrowed in order to acquire/ install the Floatation plant.
Reviewing our balance sheet ....at least in my opinion ...does not convincingly demonstrate such a financing requirement .
Mengapher funds will more than cover the $28 million US in operational costs for both the Floatation plant and drilling costs for Murchison.
WGX has extra milling capacity , mining and drilling crews that can be contracted,and lots of cash.
It would make a great cornerstone investor IMO.
50 million shares at $0.20 would generate $10 million in cash which can cover our drilling costs for Murchison.
That leaves $10 million US in cash from the Mengapher sale, after funding $20 million for the floatation plant and we have WGX as a cornerstone investor.
Such a move would grant immediate legitimacy to our management team while WGX as a shareholder would also elevate our share price.
These are the type of moves that management can make to dissolve the legacy of mistrust left by Baldock whose financings demonstrate insider and friends benefits before those of shareholders at large,