Wednesday, May 04, 2022 8:37:21 PM
Seems like the new $5,000,000 is just to cover interest owed for last year and this. Doubt it fattens the cash on hand. Plus the condition exists to have a minimum $5mm cash on hand. So with the $1.2 mm/ month burn rate they are out of wiggle room by year end unless JC does a huge inversion of their current pathetic numbers. I think the JC idea needs to abandoned. I told mgmt and greenstone that multiple times over the past year. As well as many other observations that have all come true. They would have saved millions. Raise $50,000,000 at a dime to cover rafinate plant and two or three years of ramp up is a scenario I’m concerned about. Who knows, some Hail Mary might appear. I think they are in a very tough spot. Arrogance and ignorance.
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