RE:RE:Skeena resuming its diveYes, of course every mine needs some combination of equity / debt / stream financing to get built. The question is: Can this management team get this thing fully financed on favorable terms and complete all required permitting in a timely manner? That's how you get to Stage 4 of the Lassonde Curve (for those who like to use it to make buy and sell decisions).
Look at what ARTG accomplished after they completed their DFS to get their mine building project up and running: Delivered 2021 Definitive Feasibility Study (Q3 2021)
Secured US$141M WPM silver stream financing (Q4 2021)
Signed $385M PLF Commitment Letter with additional $40m standby COF (Q1 2022)
Ordered long-lead crushing & grinding equipment (Q2 2022)
Signed Caterpillar Financial $140M Master Lease Agreement (Q3 2022)
Awarded $318M final process plant EPC contract to Sedgman (Q3 2022)
Completed $175M equity financing (Q4 2022)
Ordered construction and mining fleet (Q1 2023)
Completed construction camp (>550 beds)
Initiated process plant site preparations
Selected construction explosives/drill & blast contractors
Finalized $385M project loan facility (Q1 2023)
Received final BC Mines Act permit (Q1 2023)
Commenced construction (Q1 2023)
Received Schedule 2 amendment approval (Q2 2023)
Secured additional US$40M gold stream funding (Q2 2023)
Received Fisheries Act Authorization (Q3 2023)
Also, unlike SKE, ARTG management has lots of skin in the game.
So:
1) How good will CEO Randy Reichert and his team be at completing all required financing and permitting, under what terms, and how long will it take them?
2) When are insiders like Reichert going to start eating their own cooking by buying a sizeable amount of shares if SKE is so cheap at the moment....?