Hello Everyone I just received this email from the Company.
Hi Joe.
Yes, 3 years is a conservative estimate.
Here is my timeline:
In 12 months from today we will have easily completed our 43-101 resource estimate, our Pre Economic Assessment, and our Feasibility Study. I left out a Pre Feasibility because I am 110% certain we will have an off take agreement with a major OR be bought out.
During this period there is a lot of non hard dollar work.
1) environmental assessment.
2) community collaboration
3) tribe collaboration.
These will start soon.
With offtake agreement, mine financing will not take long.
We are speaking with a company in Australia that builds out the mining part.
They build modular systems.
What this means is that instead of spending $150mm, we build in sections, modular sections.
We can start with $40 -50mm and add sections ( modules) out of cash flow as we grow.
In my UNEDUCATED opinion, I see us shipping first product for processing in q2 to q3 2023.
This will coincide with all the new gigabattery operations starting up and Tesla 1,000 mile battery that has 33% manganese in the cathode.
Demand will greatly outstrip supply.
Also, something else we haven't pursued, much larger deposit.
We have found a new zone only 4 km from our last drill site.
Potential new deposit or extension of current deposit?
Will drill in the fall to find out.
Also, we have $6mm cash in bank today and expect another $1.5mm from warrant exercise this year.
We are in good shape.
Completion of our Pre Economic Assessment in late q3 will let us deal with facts in securing an offtake agreement with major e v manufacturer.
Today, a lot of speculation.
With PEA, we can discuss actual numbers and have deal signed up.
Yes, they know who we are but until we can discuss facts, all the rumors are just rumor, not facts.
Joe, you have permission to publish my e mail.
We are working on a news release for tomorrow re metallurgy and next week our j.v/Virginia State, testing for disinfecting air.
We have GREEN CERTIFICATION, (100% ORGANIC) and working towards FDA CERTIFICATION.
Our patented HVAC system is the delivery system.
Thx Joe talk later.
“Always give your best, never get discouraged, never be petty; always remember, others may hate you, but those who hate you don't win unless you hate them, and then you destroy yourself.”
Richard Nixon
