Thursday, January 18, 2018 4:21:46 PM
1 The Cauchari-Olaroz the pond layout and design has been completed with the pond contractor mobilized at site and production pond construction scheduled to start in the coming weeks
These are the ponds that were supposed to be constructed in the first half of 2017, than in the second half of 2017 and lastly in the third quarter of 2017. They can't make a deadline to save their asses.
2 continues to progress detailed engineering which, excluding the plant design, is 50% complete and scheduled to be completed this
quarter
This is the plant that (read all the above missed deadline)
3 Minera Exar has reviewed the development schedule for Cauchari-Olaroz and expects first production to commence in 2020
Original date 2019, than last quarter 2019 now... they say 2020 but your guess is as good as anyone else.
Now... a few delays are not normally meaningful BUT in this case it means the need for MORE Money!
They lost $11 mil in the third quarter. With meaningful production pushed to the second half of 2020 (if we're lucky) the 73 million dollars on hand at the end of the third quarter WILL NOT last to fund corporate needs for the 4th qtr + 4 qtrs. 2018 + 4qtrs 2019 and at least 2 qtrs. 2020. That's 11 quarters at $11 mil per =$121 mils.
FIFTY MILLION SHORT even if you don't count being short on the money to complete the project.
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