They will not have a problem soon to raise the cash they need.
In the next couple of months big news should be out.
(1) The Steenkampskraal NI 43-101 is due sometime in November, and it is expected to change the grade and tonnage figures. It is generally expected to improve both depending on cutoff levels etc based on the fact that the current historical records are mostly based on the search for Thorium ore, not REE deposits. RARECO attempted to re-open the mine over ten years ago with the intention of seeking REE’s, and though that did not happen due to China’s monopoly position at that time of cheap supplier of REE’s to the world, I am sure they at that time and more recently during the sale of the company and site to GWMG, informal exploration and analysis was performed, with no attempt to gain NI 43-101 compliance and certification at that time. Now that GWMG has obtained 100% ownership of RARECO, such certification is very desireable and was contracted for as soon as legally possible and practical.
The point of this of course is that GWMG already knows within reasonable parameters what the results will be, believes they will be positive for the company, and will provide acceptable 3rd party expert figures for Mr. Fulp and others such as larger institutional investors to consider
(2) News on the GQD JV - SOON
Clearly, the process has not moved ahead nearly as quickly as they had anticipated. That doesn't mean, however, that they are not making good process. Rather, it is a function of achieving a complex arrangement because it involves more than simply agreeing on the construction of a plant. Inherent in the arrangement is an element of joint operations and so they are continuously trying to assess how this will work, not just a few months out, but several years out. Combine that with the necessity of translating all documentation into both Chinese and English and it does cause the process to move more slowly than they anticipated.But it is getting close.
AI
