RE:RE:RE:RE:PEA or PFS sounds rationally. Mangement should have done its internal PEA before making such future critical big investment. Time was more than enough by waiting on bankruptcy of Millenium.
In my Opinion 140m CAD fr an approved mill included infrastrucure should be a gift in combination with BC
But that was not my point.
To illustrate Trust in operational profit and economical NPV:
To illustrate my Question:
Time Line of events:
04.08 Aquisiton Millenium without PEA TRUST
27.08 Closing of upsized PP 56m CAD TRUST
04.09. Finanancing Package of 60m with Sprott TRUST
08.09. Closing of First Tranche of Sprott credit Facility 35m
second tranche drawn til 31.03 25m upon delivery accetable PFS
13.01.20 Michael Spreadborough BOD TRUST
last weeks Q.H. TRUST
ramping up smoothly, excepitonal recovery which means about 95% (according technical report 90-955)
PEA underway set up by operational result and details to show economic over LOM
NOW MY QUESTION:
The condition to draw the second tranche of Sprott financing package will be a PFS til 31.03. aprroved by Sprott. Novo works on a PEA according Q.H. til End of this Month. BUT: That different studies? So what? What will be with the second tranche of the sprott financing package?
Peter
smilingmickey wrote: Hello Peter,
A conundrum!!
A question to ask yourself is, was it wise, given the confidence of Novo to proceed with the acquisition of the Eagle Mill, without publishing a PEA (which I'm sure they could have) to await issue of a PEA until now. Prior disclosure would have demonstrated to the market the value of the MIllennium operation to Novo (which is IHMO is far higher than they actually paid.)
SM