insiders of the corporation should be applauded for continually participating in various private placements, etc to keep this ship afloat.
The CEO is the proverbial example of skin in the game, and his commitment and passion for this project is glaringly obvious.
Through his participation in the recent PP, the newest member of the board has also satisfied his $100K director requirement to sit on the board which adds additional funding to Gensource's coffers.
It is doubtful the $918K raised in the recent private placement is enough to commence a proof of concept cavern drilling campaign, but its a start and if there is still a draw available on the HELM credit facility remaining, that could be enough to get drills in motion if they have completed the following key deliverables as stated last January.:
"Gensource continues to progress its short-term financing, which the Company anticipates will advance the near-complete bridge engineering work for the Tugaske Project. Key deliverables for the bridge engineering, anticipated to be completed in early 2023 include:
- Confirm and update the AACE Level 3 capital cost estimate (first completed in October 2021). For those interested in the depth of detail involved in this work, see https://library.aacei.org//pgd01/pgd01.shtml;
- Confirm and update operating cost estimates;
- Pursue exciting new CAPEX and OPEX reduction opportunities; and
- Bring key procurement contracts for the Tugaske Project to a ready-to-sign status."
So who's the next big name to step up to the plate as Essel, HELM, have already taken their swing and couldnt reach first base?
Should be an interesting summer if all goes according to plan and an updated cost analysis of OPEX and CAPEX does not take a lot of time to complete with todays tech, so hopefully a press release updating the summers plans is just around the corner.
Cheers!