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That's my recollection as well, however I'm pretty sure they couldn't say "no" or "yes" as they're not the ones making the decision. Niocorp also reportedly also passed the first EXIM processing hurdle without the new study and according to what was posted, they're not aware of any application that has been denied past that stage..
Not sure why we think the 2024 FS is required for EXIM? The EXIM LOI was issued with the current FS (yes, the CURRENT FS is the one from 2022). From what the company has put out, the new FS appears to be mostly related to the feasibility of REE extraction and enhanced (even more) Niobium, Scandium and Titanium production. Please post any specifics regarding EXIM needing this new study.
Your unwillingness or inability to answer the question says it all! If you're gonna bash and insult, be man enough to individually identify the folks you're targeting. But, no, not even anonymously behind an alias! So sad. iHub really should have age verification. Enjoy the new year. I know you'll keep a sharp eye on the "Attorney Advertising" for us so we don't have to bother ourselves with it. Onward and upward in 2024!
Nope, they haven't, that's why I asked again since you seem to be the only one who knows. I just thought you might want to take the opportunity at the end of the year to man-up and identify each member so your message is crystal clear as to whom you're talking about. Ambiguity can lead to misunderstandings, which we certainly wouldn't want here, and name calling is well, seems so juvenile.
You mean, like the way it's written, instead of trying to spin it? Thanks! I will.
I love how he leaves out the definition of spam that applies.
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https://ihwiki.advfn.com/index.php?title=Moderators%27_Guidelines
I think it’s high time you identify the “the kool-aid servers of the Nioturd Cult Crew Clowns.”
I do! Do you understand that’s not what you wrote, moderator? Do you understand that you went to great lengths to “IMHO” every other part of your post? Read the bold, that’s why I copied and pasted your statement so you couldn’t twist it. “IMHO” was not associated with your statement of fact, only the fact that you smell something, which we clearly can’t validate since we aren’t with you smelling what you’re smelling. The trouble you might be smelling could be any number of things that we’d rather not get into here. Words matter. Context matters. You shove it down posters’ throats all the time with glee.
Do you have proof that EXIM and Stellantis are the only hope? How about EXIM and DoD? EXIM and DoE? EXIM and DoD and DoE, and maybe a contribution from DoI? Maybe all of the above and Stellantis and a steel company? Maybe another government free cheese manufacturer?
What do you think is lacking? You’re always pushing for specificity, deliver some.
For someone who’s always so concerned about proof, you seem to be pretty comfortable not offering any to support your claim that EXIM and Stellantis are the only hope, and stating something as fact when, in fact, you have no factual basis for the statement, and likely little knowledge of how government funding works. In fact, your “government free cheese” may have ended up being necessary through loan guarantees for any private financing.
I find it disturbing that a moderator would state as fact, as you did, the only path for the positive future of an investment, and by extension, of a company and its stock, that is clearly untrue, leaves out a number of viable possibilities, and lacks any insight into reality. (Feel free to inject your tired trope about riches in the ground blah blah blah here.) It is well documented that it takes approximately an average of 16 years to get a mine operational. Since the mineral rights were obtained in 2010, NioCorp is still on track for average timing.
Tomorrow is the last day for tax loss harvesting. Looking forward to see what the new year brings next week.
Most likely because Lynas is well established and will initially be using their own ore from their existing mine in Australia, DoD is funding the facility here. Niocorp doesn’t have a supply yet and DoD probably can’t fund the majority of what NB needs, so it’s tough to justify money for nothing (though they likely can provide additional funding over EXIM, and from various pots for different purposes). Enter EXIM, and their first domestic loan in 9/2023.
That link you posted is to old news. Here are the new numbers for 2023/2024, but worth every penny IMO if they secure the $1.3 billion in funding and start digging this year, preferably in the next one or two quarters. Beyond that, I might have to agree with you.
Fiscal 2023 Summary Compensation Table
Name, Salary ($), Bonus ($), Option Awards($), Total ($)
Mark A. Smith 304,000, 100,000, 216,300, 620,300
Scott Honan 265,000, 50,000, 123,600, 438,600
Neal Shah 227,500, 50,000, 123,600, 401,100
This is from another company, but I think gives a nice summary of Mission Training through Distributed Simulation (MTDS). Sounds like it’s right up VirTra’s alley although I’m disappointed I’m not finding anything with VirTra using this term. At 1:22-1:40 says they can hook up any existing sims with no costly upgrades.
From the NDAA - Can VirTra get a some of this?
SEC. 1210. AUTHORITY TO PROVIDE MISSION TRAINING THROUGH DISTRIBUTED
SIMULATION.
(a) Authority for Training and Distribution.--To enhance the
interoperability and integration between the United States Armed Forces
and the military forces of friendly foreign countries, effective
beginning on the date that is 30 days after the date on which the
Secretary of Defense submits the report required by subsection (d), the
Secretary of Defense, with the concurrence of the Secretary of State,
is authorized--
(1) to provide to military personnel of a friendly foreign
country persistent advanced networked training and exercise
activities (in this section referred to as ``mission training
through distributed simulation''); and
(2) to provide information technology related to mission
training through distributed simulation, including hardware and
computer software developed for such activities.
(b) Scope of Mission Training.--Mission training through
distributed simulation provided under subsection (a) may include
advanced distributed network training events and computer-assisted
exercises.
(c) Guidance on Use of Authority.--Not later than 120 days after
the date of the enactment of this Act, the Secretary of Defense shall
develop and issue guidance on the procedures for the use of the
authority provided in this section.
(d) Report.--
(1) In general.--The Secretary of Defense shall submit to the
appropriate committees of Congress a report on the anticipated use
of mission training through distributed simulation by military
personnel of friendly foreign countries.
(2) Elements.--The report required by paragraph (1) shall
include the following:
(A) A description of anticipated mission training through
distributed simulation activities between the United States
Armed Forces and the military forces of friendly foreign
countries.
(B) A description of the current capabilities of the
military forces of friendly foreign countries to support
mission training through distributed simulation activities with
the United States Armed Forces.
(C) A description of the manner in which the Department
intends to use mission training through distributed simulation
activities to support implementation of the National Defense
Strategy, including in areas of responsibility of the United
States European Command and the United States Indo-Pacific
Command.
(D) Any recommendation of the Secretary of Defense for
legislative proposals or policy guidance regarding the use of
mission training through distributed simulation activities.
(3) Appropriate committees of congress defined.--In this
subsection, the term ``appropriate committees of Congress'' means--
(A) the Committee on Armed Services, the Committee on
Appropriations, and the Committee on Foreign Relations of the
Senate; and
(B) the Committee on Armed Services, the Committee on
Appropriations, and the Committee on Foreign Affairs of the
House of Representatives.
(e) Sunset.--The authority provided in this section shall terminate
on December 31, 2025.
Haha, I don't think it's depressing at all! I believe that every day that goes by still "PENDING" and without a "NO" just improves our position and chances! Could be sooner or later, just trying to get as much info as possible and take the whole holiday/budget thing into consideration. 90 days would be 2/8.
I don't think the public comment has started yet. I haven't seen anything posted yet for NioCorp AP756637XX on the Federal Register. Everything on the EXIM pending chart for NB looks to be still pending, including ESIA. Assuming it needs an ESIA (since it's shown on the chart), looks like that will show up with a link and then the 30 days comment can start. Then a couple/few weeks to go to the Board? Thinking mid-late February at the absolute earliest for any kind of decision? Just trying to cobble stuff together here that makes sense.
Aug 1 (Reuters) - Lynas Rare Earths (LYC.AX) said on Tuesday it had signed an updated contract with the U.S. Department of Defense (DoD) for the construction of the heavy rare-earths component of its rare-earths processing facility in Texas.
Under the contract, a contribution of about $258 million by the U.S. government is currently allocated to the project, higher than the $120 million contribution announced last year, Lynas said.
Lynas, the world's largest producer of rare-earths outside of China, said the updated contract follows detailed design work and cost updates for the project.
Lynas’ Texas facility will serve both the DoD and commercial customers, and is targeted to be operational in the financial year 2026.
"Lynas is the only commercial scale source of separated rare earths outside of China and our expertise makes us the ideal partner for the DoD as it addresses supply chain vulnerabilities and strengthens national security," CEO Amanda Lacaze said in a statement.
Feedstock for the facility will be sourced from the company's Mt Weld deposit and Kalgoorlie facility in Western Australia, the miner added.
Shares of the company rose as much as 6.5% by 0052 GMT. Lynas was also among the top gainers on benchmark ASX 200 index (.AXJO).
https://www.reuters.com/markets/commodities/lynas-rare-earths-signs-updated-contract-with-us-govt-texas-facility-2023-07-31/
I read something yesterday saying they were going to build the plant first before the mine, but now I can’t find it. Found this just now from August 2023
Whew! Appropriate that you saved all that up for today, the great day of Festivus, although I think the Airing of Grievances is supposed to take place at the family meal. 😂
Regardless, you got it out, so it’s a good time to move on to the possibilities of 2024!
I would think that would be addressed in the new FS, which should include the results and potential of benefits the new extraction techniques.
https://www.metaltechnews.com/story/2022/05/25/tech-metals/elk-creek-deposit-proves-to-be-rare-earth/947.html
I think in the recycling as well. Smart to cover all the bases when there seems to be multiple pots of money available.
Merry Christmas, and Happy and Safe Holidays to all!
Merry Christmas, and Happy and Safe Holidays to all!
Congress’ bipartisan support for securing supply chains for critical minerals is evident throughout the NDAA.
The bill would require the federal government to develop a strategy to achieve “critical mineral independence” from China, Russia, Iran and North Korea while establishing a new university-affiliated research center to study issues around accessing and commercializing critical minerals.
It would also authorize the Pentagon to replenish the national mineral stockpile with domestically processed minerals.
https://www.eenews.net/articles/whats-in-and-whats-out-of-the-final-ndaa-package/
Biden signed the 2024 NDAA
Nice find...Hopefully, that's just the beginning!
More indication of what might be coming...DOD Awards $23.4 Million to Expand Domestic Capability to Upcycle Scrap Material into High-Grade Metal
Dec. 06, 2023
(Source: US Department of Defense; issued Dec. 05, 2023)
WASHINGTON --- The Department of Defense today announced award of $23.4 million via the Defense Production Act Investment (DPAI) Program to 6k Additive, LLC to expand capability to upcycle waste and scrap material for conversion into higher grade metals for use in defense and commercial supply chains.
"U.S. dependency on foreign sources for specialty metals presents a significant risk to national security," said Dr. Laura Taylor-Kale, Assistant Secretary of Defense for Industrial Base Policy (ASD (IBP)). "6K's products will feed supply chains that form the basis of our military's core warfighting capabilities."
The award will enable 6K Additive to execute facility renovation, equipment acquisition and installation, and engineering. This will result in production capacity for high-grade metals to include titanium, niobium, nickel, and tungsten. These metals are used in alloys for aircraft structural components, turbine engine blades, rocket engines, radar systems, and many other key defense applications. 6K Additive's proprietary upcycling processes leverage abundant domestic sources of metal feedstock, to include end-of-life components, machine shop waste, and scrap from manufacturing processes such as casting and forging.
To date in calendar year 2023, the DPAI Program has made 24 awards totaling $735 million. DPAI is overseen by the ASD (IBP)'s Manufacturing Capability Expansion and Investment Program (MCEIP), in the Office of the Deputy Assistant Secretary of Defense for Industrial Base Resilience. With MCEIP's help, 6K Additive expects to achieve full rate production at their Burgettstown, PA facility by the end of 2026.
About the Office of the Assistant Secretary of Defense for Industrial Base Policy (OASD (IBP)
The OASD IBP works with domestic and international partners to forge and sustain a robust, secure, and resilient industrial base enabling the warfighter, now and in the future.
-ends-
Emergency Access to Strategic and Critical Materials: The National Defense Stockpile
November 14, 2023
https://crsreports.congress.gov/product/pdf/R/R47833
Part 3 of 3 part series
Proposed rare earths mine raises environmental concerns in Nebraska
MAY 30
https://san.com/cc/proposed-rare-earths-mine-raises-environmental-concerns-in-nebraska/
By Jack Aylmer (Reporter/Producer), Brian Spencer (Editor)
Rare earth minerals, known for their immense value to the global economy, have become a focal point for the United States. Lawmakers and leaders want to boost domestic production to reduce reliance on foreign adversaries like Russia and China. Mineral exploration company NioCorp is working to establish a first-of-its-kind mine in the Midwest that would extract some of these elements, but concerns remain regarding the potential impact of the facility’s construction and operation on the surrounding environment.
The proposed mine, set to be built in Elk Creek, Nebraska, will involve drilling approximately 1,500 feet underground and span over 60 acres of land. NioCorp claims to be taking steps to minimize the project’s overall environmental footprint and has developed strategies to reduce waste production. These efforts include limiting air emissions, ensuring no discharge of wastewater, and advancing research for recycling and reusing chemical materials that were previously destined for disposal.
“We’ve done very extensive environmental studies of the plant area and some off-site areas, and by doing those studies, and doing them up front, we can avoid impacting sensitive areas of the environment,” NioCorp COO Scott Honan said. “This work illustrates how strongly NioCorp is committed to reducing our net greenhouse gas emissions when and where we can. Niobium, scandium, titanium, and the rare earths all play critical roles in reducing greenhouse gas emissions in the products in which they are used.”
The company has emphasized its commitment to sustainability with this project, citing environmental, social, and governance (ESG) principles as fundamental to its core values. NioCorp CEO Mark Smith has asserted his organization’s dedication to minimizing the ecological impact of the mine.
“Environmental, social, and governance factors can and should play a major role in any business, particularly those involved in natural resource development,” Smith said. “These factors are fundamental to NioCorp’s core values. Moreover, implementing the proper corporate ESG culture can be good for the environment and for business.”
Despite these pollution-mitigating techniques, rare-earth mining still carries significant risks to the environment. According to the Harvard International Review, for every ton of rare earth minerals produced, as much as 12,000 cubic meters of waste gas are released into the surrounding area. Additionally, each ton of mined materials results in the production of two thousand tons of toxic waste.
“Rare earth mining is one of the most environmentally destructive practices that occurs on the planet.” said James Taylor, president of The Heartland Institute, a public policy think tank.
While these minerals are crucial to the U.S. economy and national defense, their near-exclusive production by foreign adversaries is partly attributed to lax environmental regulations imposed by other nations.
China, which accounted for 85% of the global supply of rare earth minerals in 2016 despite possessing only 35% of the world’s reserves, employed low-cost, high-pollution mining methods to quickly establish a monopoly in the industry. Other countries were reluctant to adopt similar practices due to the resulting environmental impact.
“Why is China so dominant? Well, one of reasons is that China does not impose the environmental standards that people in western democracies justly require for mining and especially of rare earth minerals mining,” Taylor said while testifying before the Pennsylvania General Assembly regarding the viability and impact of rare earth materials in the state.
The Chinese government has even acknowledged the existence of “cancer villages” near some if its mines, where a disproportionately high number of people have fallen ill as a result of excessive pollution.
“The toxic chemicals have caused many environmental emergencies linked to water and air pollution,” China’s environment ministry said in a 2013 report. “There are even some serious cases of health and social problems like the emergence of cancer villages in individual regions.”
“The cleanup has been difficult, especially because there has been a long history of mining here,” said Xu Cheng, director of the Longnan Rare Earths Bureau, according to the Yale School of the Environment. “Some experts said that it will take 50 to 100 years before the environment can fully recover, so the cost born by the locals has been high … We have made huge sacrifices to extract the resources they need.”
To mitigate the domestic impact, China struck deals with developing countries in Africa, allowing them to move their mining operations there in exchange for Chinese-built infrastructure. This strategy enabled China to transfer the pollution burden to external communities while maintaining control over a multi-billion dollar industry. For example, the Democratic Republic of Congo, which controls more than 70 percent of the world’s cobalt supply, reached a $6 billion infrastructure-for-minerals agreement with China in 2007 that has resulted in the pollution of a major tributary of the Congo River.
In Nebraska, NioCorp has secured all the necessary government permits for construction to commence and has presented testimonies from members of the Elk Creek community who support the project. However, as the construction of the mine moves forward, many stakeholders will closely monitor its effects on a region where the economy is primarily driven by agricultural production.
Part 2 of 3 part series...original post by Scooter83
Part 1 of 3 part series by Straight Arrow news earlier this year. Here is the full series in 3 posts...
Russian, Chinese dominance of rare-earth metals threatens US security
APR 6
https://san.com/cc/russian-chinese-dominance-of-rare-earth-metals-threatens-us-security/
By Jack Aylmer (Reporter/Producer ), Chris Childs (Field Videographer ), Dan Reardon (Editor)
When President Joe Biden signed the Infrastructure Investment and Jobs Act into law, it provided $550 billion for tens of thousands of projects across the country, such as roads, bridges and mass transit. According to the White House, this “once-in-a-generation investment in [American] infrastructure” aims to “grow the economy and enhance [the nation’s] competitiveness” through these funds.
The legislation also included investments of $7.5 billion in electric vehicle charging, $10 billion in clean transportation, and more than $7 billion in EV battery components. Additionally, it has been stipulated that all EV chargers funded through the Infrastructure Investment and Jobs Act must be built domestically.
However, building all these things, from infrastructure to electric vehicles, requires resources which the United States cannot currently obtain without going through foreign adversaries, like Russia or China.
“The United States will continue to rely on China, Russia and other foreign nations for our supply of raw materials and rare-earth minerals, and this is unacceptable,” Sen. Joe Manchin, D-W.Va., chairman of the Senate Committee on Energy and Natural Resources, said.
“America’s defense in the modern era increasingly demands the use of critical minerals, making it more essential by the day for our nation to have a sufficient stockpile of and reliable access to these materials,” Sen. Joni Ernst, R-Iowa, ranking member of the Senate Subcommittee on Emerging Threats and Capabilities, said. “At this very moment, our enemies like China dominate the supply chain of these increasingly vital materials, and are even expanding into regions such as Africa and Afghanistan, threatening our readiness in an emergency situation and jeopardizing our national security.”
Three crucial elements needed for projects like these are known as niobium, scandium and titanium. They are used in cars, bridges, military vehicles, buildings, aircraft and wind turbines, among other things. Because of their properties that make metals both lighter and stronger, these elements have the ability to improve the fuel efficiency of automobiles and help infrastructure last longer.
The U.S. government considers niobium so important it has even purchased quantities of it to store in the National Defense Stockpile to have on hand in case of national emergencies, a distinction given only to a handful of critical strategic materials. Industry leaders also say niobium can revolutionize electric vehicles, allowing their batteries to last five to eight times longer than the current lithium ion technology, with just a 10-minute recharge time.
“The rare-earth elements are really what enables electric vehicle technology,” Scott Honan, COO of NioCorp, said. NioCorp is a U.S.-based mineral development company. “You’re going to have all these fabulous rare-earth magnets out there powering electric vehicles in a very reliable and efficient way.”
Aluminum-scandium alloys are utilized for aerospace industry components and sports equipment, while scandium oxide is used to make high intensity stadium lights. Very dilute scandium sulfate can also be used to improve the germination of seeds such as corn, peas and wheat. Titanium’s properties make it useful in aircraft, spacecraft and missiles because of its low density and ability to withstand extreme temperatures. Its ability to resist corrosion extends to seawater as well, making it critical for desalination plants and in protecting the hulls of ships, submarines and other structures exposed to the ocean.
While these rare-earth elements hold a litany of potential uses for crucial American needs, the nation faces major difficulties in acquiring them. The U.S. is 100% reliant on foreign nations for niobium and scandium, and is more than 90% reliant on foreign nations for titanium mineral concentrate, per the U.S. Geological Survey.
“We’ve got to stop relying on Chinese rare-earths in our defense industry,” Sen. Mark Kelly, D-Ariz., a member of the Senate Committee on Armed Services, said. “It’s a national security risk to us. If China decided to cut us off on those rare-earth minerals right now, this would have a serious impact on our national defense.”
“Not having the critical minerals identified and produced in this country would present a security problem and prevent us from moving ahead on multiple issues,” Rep. Ryan Zinke, R-Mont., said. Zinke serves on the House subcommittees for both Housing and Urban Development and Military Construction. “We’re vulnerable to China for very critical components of our economy.”
Meanwhile, according to the Royal Society of Chemistry, China and Russia are the No. 1 and No. 2 producers respectively of scandium, while China is the world’s top holder of titanium. In niobium’s case, 98% of the element’s active reserves worldwide are found in Brazil, but 75% alone comes from an organization called Companhia Brasileira de Metalurgia e Mineração (CBMM), which Chinese companies have bought a nearly $2 billion dollar stake in.
“Primarily, all these oxides are coming out of China,” NioCorp CEO Mark Smith said. “I’m sure the Russia-Ukraine war and certain Chinese actions that have been taken over the last six to seven months have caused a lot of this to become the new issue to talk about.”
This all presents challenges to American interests, creating a national problem which a small village of less than 100 people in the Midwest could hold the key to solving. NioCorp has a multi-billion dollar plan to construct a first-of-its-kind mine that would extract these previously untapped resources from the surrounding farmland of Elk Creek, Nebraska. This mining initiative aims to produce niobium, scandium, titanium and other rare-earth metals, as it attempts to make the U.S. competitive in this sector on the world stage.
NioCorp Announces Closing of Private Placement for Gross Proceeds of US$1.29 Million
Subscribers in the Private Placement Include Certain NioCorp Officers and Directors
CENTENNIAL, Colo. (December 22, 2023) – NioCorp Developments Ltd. ("NioCorp" or the "Company") (Nasdaq: NB; TSX: NB), is pleased to announce that the Company has closed its previously announced non-brokered private placement (the “Private Placement”) for an upsized amount of an aggregate of 413,432 units of the Company (each, a “Unit”) at a price of US$3.08 per Unit, provided that certain officers and directors of the Company (the “Insider Investors”) subscribed at a price of US$3.205 per Unit, which price includes US$0.125 per Warrant (as defined below) underlying each Unit purchased by the Insider Investors and allowed the Insider Investors to participate in the Private Placement in accordance with the rules of The Nasdaq Stock Market LLC (“Nasdaq”), for aggregate gross proceeds of approximately US$1.29 million.
Each Unit issued under the Private Placement consists of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant” and, together with the Common Shares included as part of the Units, the “Securities”). Each Warrant is exercisable into one Common Share (a “Warrant Share”) at an exercise price of US$3.54 per Warrant Share until December 22, 2025. All of the Securities issued pursuant to the Private Placement are subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.
The Insider Investors subscribed for an aggregate of 138,845 Units under the Private Placement for aggregate gross proceeds of approximately US$445,000. The Insider Investors are each considered a “related party” of the Company and, accordingly, their participation in the Private Placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholder Approval (“MI 61-101”). The Company relied on exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the Units issued to the Insider Investors, nor the consideration received for those Units, exceeds 25% of the Company’s market capitalization.
The Company expects the net proceeds of the Private Placement will be used for the continued advancement of the Company’s Elk Creek Critical Minerals Project (the “Elk Creek Project”) and for working capital and general corporate purposes.
No money til the bill is signed and/or the application is approved, but you know that and you’re simply being obtuse because it’s what you do best. Yorkville is keeping the lights on, but you know that too. If you noticed, I’m willing to engage when you’re civil and ask legitimate questions, not so much when you go back to turd slinging. Enjoy the day and think about seeing a chiropractor about all that fn head shaking. It’s been found to be problematic.
Oh, and by the way, EXIM often backs private lenders by guaranteeing the loans made by the private lenders, as well as insuring exports, so that government “welfare” you’re so concerned about is fairly ubiquitous.
https://www.exim.gov/solutions/get-financing
100% eom
It has attracted the biggest investor in the world, the U.S. Government. While maybe not falling all over itself, it does appear to be moving forward with the process according to its established procedures, based on the most recent reports we have available.
I personally know of at least three new investors, so not sure what proof you have that it’s not attracting new investors.
Why does it matter where the money comes from and why would anyone care as long as it comes? Unless you’re not an investor here to make money, as I would imagine most of us are? Do you have proof that the government money isn’t as good as big private lender money? Government(s) may be one of the biggest customers/consumers, so it’s in their interest to provide financial assistance. As a loan (with interest), it shouldn’t cost taxpayers much, and whatever it might (in the form of grants or earmarks), may be worth the small investment to secure the critical minerals.
And, as I was focused on U.S. Gov’t financing opportunities in my other response, I forgot to add the addition of an updated FS, potentially highlighting new productivity based on new processes, which may attract more investment from the private sector and beyond.
I keep buying.