Some thoughts on the financing and optionI've been looking at the current situation, and it seems to me that the real issue is the current debt. FT has about $10,000,000 owing at the end of the year. They need to refinance that. The Lind Funding would enable some of that, or the exercise of the option. In the short term, they need the funding to pay for SGS testing, which will get refunded. Cash flow would make it difficult to put down more than they did on the option if they are to refinance in time. I'm hoping the amended terms keep the downpayment applied toward the purchase, even in the case of expiry. As far as the refinery site price is concerned, I doubt that there was real pressure to finish the deal. Industrial real estate near Edmonton isn't soaring, and a site near Lamont is far enough away to be awkward. However, it's not a bad site for FT's purposes. If they can work a deal with Worley involving some combination of engineering work and financing. There are lots of groups that have an interest in this, including the Tilcho, NWT, AB, Canada, and US governments, as well as Rio Tinto and Worley. The US government has the deepest pockets, and everyone else has an interest in getting their funding, for as much of this as possible. In the meantime, any process involving the leaching of metals is very slow, which means the testing timeline is measured in weeks or months.
On the whole, I'm going to keep holding.