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Re: ge11 post# 110263

Friday, 04/05/2024 2:32:55 PM

Friday, April 05, 2024 2:32:55 PM

Post# of 113431
Hey ge and PC, I've been wondering where the next round of financing will come from and how much they need. The last 10q says they had $4million in unpaid bills and 800k in monthly expenses. I sent the following question to Jim yesterday and did not get a response. Curious if you guys have any thoughts? Is $11million too little for an updated FS given the rejiggering of the niobium and titanium extractions?

I'm hoping you can answer a question about the latest 10q. Regarding this wording from page 22,

The Company anticipates that it does not have sufficient cash on hand to continue to fund basic operations for the next twelve months, and additional

funds totaling $10.0 million to $11.0 million are likely to be necessary to continue advancing the project in the areas of financing, permitting, and detailed engineering.

Does the 10-11 million refer to 1) the total of 12 months operating costs (805k x 12) or 2) is this the expected additional costs related to completing the feasibility study? If it's #1 do you have an estimate for what feasibility study will cost? Or are the expected feasibility costs reflected already in the 10-11 million figure?
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