Will Dundee Change Stated Uses for $8 million funding ? In my view, yes.
I focus on the $1.5 million for Updated FS.
I do understand the purpose of this.....to update the Resource levels of HD and Orion using most recent drilling..and the much reduced capex needed and cost reductions for lower trucking costs along with the higher recovery of the Pine Cove mill.
However, we already have a FS and a fully permitted HD mine, so quite wisely, we are going to begin mining HD in mid Summer of 2025=
The much more important part of an updated FS is to include all contributing gold deposits like Stoger, Deer Cove, HD satellites , such that a 5 year mine of HD becomes a 10 year mine or more.
That will require signifucant definition drilling.....which can now be funded by early mining of HD .....while a gush of new cash flows from TSF #1 and #2 tailings, ore stockpiles and so on are used to pay for modest capex needed for grade control drilling of HD
That $1,5 million for an updated FS can actually wait until well into the production life of HD.
Which means using these funds for early drilling of Deer Cove, Pine Cove and Whisker Valley.
What a boost in share price and asset value those drilings could produce.
We are in a new game , already with cash flows that we never knew about 3 months ago.
In my view, Dundee's hand has yet to be seen..
AIMHO