Agreed, SB.
Although my background is not in financing, I do understand the necessity for a solid source of funding.
My background is industrial automation and project planing and management. I can tell you that it is a rare project that does go according to a projected schedule. The newer the process, the more difficult it is to project timetables accurately. But the thing to remember with POW is that this WAS a fully operational mill a few years ago. Reports from some of this board's member who have visited the site tell us that the mill is in excellent shape. So the only real change to the mill will be the addition of the drying equipment and the dry stack repository.
Another strong point we have going for POW is the "old timers" who ran the mill before it was C&D'd. They know how to run it. POW still has them around.
My personal opinion is that "toll milling" will get CGF a good source of income (and a predictable one) once the mill is operational. That source of cash can be used to get the mines operational. But getting the first source of funding for the dry stack process and a bit extra for the first few weeks of operation will be the most difficult. The granting of a clear mill permit, without conditions, from the DRMS will be a good, leveragable, source of funding.
You have obviously put a lot of thought into the financial end of CGFI's situation. I admire that. You are asking a lot of great questions. Some of the other board members will also be able to help with details about the operation side of the mill.
When we share the info we have, we get a better idea of what we can reasonably expect.
Thanks for your insight. Keep the questions and info coming. It helps many who read this board.
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