RE:RE:RE:RE:$RHC.v | Interview with Andrew Davidson, CEO @ $RHC.v
Hope the lack of any money won't push timelinr back. They have plans to drill 2 wells at Val Marie and then hopefully jump right to Climax to drill a fancy new horizontal to unlock the Nazare using the wizardry of the University of Regina team. (not mocking them, I hope they deliver the perfect drilling and completion strategy!!!).
Then as soon as all indications for the IHC combination are favorable, they will order two purifiers, one for Steveville and one for Climax shallow zones. They will get a 10-15% price break on the buy two instead of one plan, but the lead time is long and getting longer. And they will have to finace them in some way. IHC has no cash to go to production and they are looking to the combination with RHC to solve that. (plus they do get a third of the combined company for one nice project with two production ready wells). But RHC has no cash either. I suppose financing the purifiers can be done but cost of that is a lot more than 6 months ago.