GREY:NEVDQ - Post by User
Comment by
nofluffon Dec 14, 2021 10:40am
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Post# 34228697
RE:Does it warrant the possibilities
RE:Does it warrant the possibilities The warrants could be extended 1 year. There are about 100 million warrants in the money at 1.00 cad. That is a lot of selling into market. However, 5 or 7 thousand tons of 200.00 rock would absorb that quickly leaving about 50 million equiv. warrants at about 2.50 wash. Total warrant injection would be about 200 million to bank. With a couple hundred million earnings, that may satisfy, senior lender down payment requirement for op development.
I believe they said we have 60 million in the bank, plus 15 million unused credit line. 3 months ago, we were supposed to be mining sugar cube by now.
Then a month ago we were supposed to be drilling sc and mining q1. This second crossing was supposed to b much faster with the knowledge gained on 1rst crossing. It appears just as slow or slower. The pala equity was used to reduce pala loans. Now we r told we only have 60 million left from over 125 million raised because we used it to pay fown debt.
The words and phrases used to explain things was in a different language than minor sh or most majors even speak. Trust is now an issue with management. That is the case with most corps. I thought ncu might b a bit different.
Hopefully, they can regain some.
nf