Morning Update CRE
I sent a email to Patrick this morning with several concerns and questions and he called me back within the hour, he seemed very sincere with his answers, and management is aware of our plight as they are affected also.
1/ “Final Investment Decision” is mining jargon to include several parameters , final land usage permits, Front End Engineering is completed to 65%, strategic partner and mine financing
2/ all financing to be wrapped up by end of summer at latest (best estimate)
3/ conservative timeline is still on the table for site prep for Sept.
4/ Dr.Harber and Marcus Bruno are leading negotiations with Jean-Sebastion
5/ I commented it would be nice to hear from Dr.Harber to maybe assist with shoring up our shareprice, I told him about our concerns that Dr.Harber was like a ghost, I could not get a commitment (but it is possible my take from our discussion)
6/ management is aware of shareprice but they are in a difficult position with ongoing negotiations with what they can divulge
7/ he did say shareholders will be rewarded for their patience (his opinion)
8/ there is no plans for any equity financing as they have over 30Mil for covering site prep, drilling engineering and ordering long lead equipment
9/ several entities in discussion very large entities with many layers of lawyers etc.
10/ they admitted that they were somewhat nave about the completion of the Investment decision and mine financing after Provincial Permit was received last November, much more convoluted and nuanced
I think that was about it.
GO CRE GO !!!!