CopperKen,
With no financing they will be unable to afford the catalysts and reagents to run the floatation equipment. There will be no money for payroll, accounts receivable, extensions on current debt, etc. etc....
Yeah, they may have the rough cells AKA scrap parts installed; however, with out financing nothing will change. LTF is the only way out. STF is impossible. Every asset they have is already collateralized. They have nothing left to leverage, and a new share backed loan is the same as lending on an unsecured position.
Everyone always brings up what he or she has seen at the mill. The mill has an impressive appearance, but bottom line, it has not worked as anticipated, and has yet to have proved that it ever will.
I am skeptical, as should everyone be. We do not know much, because the company is not transparent, but what we do know looks bad. The rest is just speculation.
