I'm no expert, but my understanding is that the current loan is just a 'bridge loan' until they can secure financing for full production. This financing will be in the $25 million dollar range. It's this financing package that I'm hoping will remove the current debt with minimal dilution.
Ya about a 4 mill loan. What I don't like is they could have probably used that money to start small scale production but instead they are buying up more land and more in fill drilling. Don't get me wrong I think they have have made a good deal with the Obesters. There is most likely much information here that we are not privy too. These actions like infill drilling may be a request from someone who in interested in financing. All in all our position on the comstock is stronger now than ever so I like that. I would like an IG7 to make it all legit though. I just hope these guys have the ace up there sleeve here. They are playing a dangerous game with our money.
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