Under this final Contract, MSL will mitigate damage and restore the Twitchell Dam and Reservoir to its original holding capacities at cost of from $1.5 Billion to $2 Billion. The Contract allows for adjustment in the scope and term of the project - over an anticipated completion schedule of 7 to 10 years. Gross revenue to the Company is estimated to average $200 million annually. Two additional projects are currently in queue.
This scheduled revenue enhances the Company's ability to fund its other natural resource projects without debt or dilution.
Ratification of the Final Contract precipitates commencement of Phase I operations within seven (7) days, and continuous ramp-up over the next several months. The Company has secured $40 million in equipment financing and a $150 million Line of Credit for phased mobilization immediately available through institutional providers.
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