surplus cash300 mil + 138 mil wheaton - 20 mil gold notes - 8 mil expenses
= 410 mil from funding.
if the updated pea reduces the initial capex of toro to 310 mil then subtracting from 410 mil means the funding produced 100 mil in surplus cash.
the cash balance (not counting funding) at end of year was expected to be close to 100 mil.
so the total surplus cash gcm has is close to 200 mil by end of year. this is in a year where they invested a large capex on 60km exploration drilling, building poly metallic plant, and expanding to 2000 tpd. they do not need to increase investment capex even more, so what to do with that 200 mil in surplus cash?
what better way to use that 200 mil flood of surplus cash than to buy back shares at crazy undervalued prices?
(how is that for positive thinking? lol)