RE:RE:Piedmont Canadian junior mining company Avalon Advanced Materials Inc. had hoped to receive government funding to build Ontario’s first domestic supply chain for lithium processing. However, the company’s financials reveal a different story. With a capital cost estimate for the project set at $850 million and the company’s current cash standing at only $741,381, the ability of Avalon to raise the necessary funds is being seriously questioned. This has led to a ‘going concern’ warning, highlighting the company’s unstable financial position.
Optimism Amid Financial Challenges
This is probally the best deal going for Sokoman at present ! Piedmont can see this project at a lot more angles than meet the eye . Number one is it's very close to sea going ports . # 2 Hydro on their back step', #3 Good mining jurisdiction, and the rest is the drill bit . Have a great week . BCRNW