RE:New Press Release - Electra Provides Refinery Update and Files 2023 Financial ReportsBBoard colleagues,
The words that struck me with most impact in reading this Rerfinery Update were (direct extract):
"Electra completed a re-baseline engineering report in the second quarter of 2023 to assess remaining refinery scope, construction schedule, and capital expenditures. The re-baseline engineering report estimated that the total capital costs are C$155 to C$167 million [Note inserted by ElJ... all previously published "news"], of which approximately C$85.6 million had been capitalized as of December 31, 2023."
Interpretation: {$155 - 85.6 Million = 69.4 Million to 167 - 85.6 Million = 81.4 Million} seems still required to finish and commission the Refinery... the previously estimated Extra $60 Million seems to be creeping upwards... but of course the original Target- Refinery-Operating-Date major miss will be worth the wait, if it gets successfully commissioned at specified production rate sometime during year 2025. Management's past 3 years performance has not been encouraging,
Peace,
Good Decision-making to All,
ElJ