First, if they want cash to Mine, they need to process the existing Ore to get revenue. At the present moment, there is insufficient funds to advance the program. So far, no JV has come forward, that's not to say they won't. If Antimony Ore is becoming increasingly valuable, there should be Mining companies crawling all over FM and they should be dealing with the 1000 Tones +/- that already exists.
Second, the BoD claim to be funding the day to day running of the business from their own pockets. OK, this will be low value funding, but when it comes to having to fork out for Plant, workers, Transport, storage, assaying etc., we are talking of tens of thousands of Dollars just as a starter, and thousands per MONTH! If that becomes available, it will take a LONG time to blast from far deeper into the Mine (if they have the key to the gate!). From then on, production of Ore to Antimony needs to be very significant and quick. IF this is the case and it happens, the production and sales of the Ore need to keep pace with the cost of Plant, Staff, detonations and pre-existing bills. One Tonne of Ore costs a lot of money to convert to Antimony. It must have 20% + yield to become salable for perhaps above $7000 (increasing) per Tonne, with a buyer on tap to keep the cash flow going.
Whilst this is not impossible, it can be made to happen but ONLY if someone comes along with a nice fat check to fund their program, then work can begin. Short of this happening, and as Pitman effectively mentioned a time back, it would need a miracle for this to happen. They must still service at least $1.5M + of debt, so whatever they get from any Mining, may outweigh the viability of the project in the first place unless the Bank or whoever, claim a guaranteed percentage of anticipated profits based on the first load and sales, then a projection based on what happens after the first 12 months and thereafter. If they can accurately crunch the numbers with PROOF of profits from sales, they may stand a chance.
There still needs to be BIG profit to continue to move forward. As this is a two man show, I have doubts as to the feasibility to even the first stages, but We shall see?
Maybe 2020 will be the year FLPC and remaining shareholders has a change of Fortune. ANY news on Mining and funding will create a Bullish movement on the SP, but needs to be 1000's % to try to make any real gain?
GOOD LUCK Peoples!!
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