I think some peeps expected the funding approval to be announced shortly after the PR for the assay on the tailing pile and are disappointed it did not happen quickly.
As a last resort, there are always convertible notes available to finance the re-opening of the mine but Rod said he did not want to take that road. But carefully structured they could work, just need enough time to pay them off prior to their conversion date. The Asher Enterprises notes were 6 months which was stupid!
I knew when I started buying shares that this would be a long term investment and that has not changed. All the European financial turmoil has certainly not helped and banks are holding their funds tight.
I'm trying to remember a conversation I had with Rod and 7 million clicks as the number of lbs. he thought might be in the tailing piles. So 1.2 million tons might produce 7 million lbs.
Now we know processing them will be a lot less than mining them so say $1 per lb. or less. 7 million lbs sold at say a low ball of $3 a lb. still results in a profit of $14,000,000.00 more than enough to pay off a loan/note and expand.
Sounds so simple doesn't it?
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