I will add my 2c or should I say 9c since we can still trade in the US and we hit 9c today.
First comment is that I hope everyone understands that the Thrust deal is only concerning Molejon.
1. Funding of Molejon by paying only what is mandatory to start production. Worker's back pay is one them and the Gov. made sure it happens that way.(I am guessing that operating within a trust protects the company from some creditors)
2. Profit sharing is only for Molejon generated profit. (that calculation will be interesting. How do you split the G&A?)
Second, I understand that the previous deal discussed of a gold forward purchase is still alive. The Trust funding portion must be a prerequisite to a gold purchase agreement. My guess is that the bond holders / guarantors wanted to have evidence that gold could be produced. To close that agreement will also require a full filling of previous Q and Year. Since big accounting firms do not work very fast and only start after they receive a check I do not expect the filling to be done before some time in late February. In my opinion the TSX will play ball since there is a clear path for getting out of this mess. As of now it looks like they will but there is no guaranty.
I believe that if and when the gold purchase agreement closes then the funding will start immediately for Portugal. That asset is a low hanging fruit with great ROI for minimum investment. What we did not do that earlier when we had money is beyond me!!
By the way, I have no idea where the requirement that "Fifer has to step aside" comes from. I know some of you would like that but I do not see it. Operation management of the "PTQ 2.0" will be different and the overseeing by the Trust owners and Bond holders will be very significant. So, yes Fifer will get some "help" from them and that is a good thing. Also, none of the deals include "massive" dilution. Some people would like you to believe it does but it is not correct.
As I said a few times in the past we are still alive. Now we are almost out of the hole. Not quite, but almost.
Good luck to all.
