I will join Jonu for a beer when it happens!!!
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Yeah but that news alone, of progress, be it a little should cause a bit of excitement.
1/3 of the way through June - DOC sign-off due this month. Good time to do a CR.
After playing this thing for close to 20yrs, Im in - still a gamble, but worth a crack. What happens to SP over next few weeks, and where the CR gets placed will be interesting.
Historically, CR has been at a discount to the average trades over previous month - given that we have seen elevated prices recently, Im picking they may try to issue at $0.020 - then how much do they need to buy the kit and get the infrastructure set for Terra Firma to produce the good stuff.
We may finally see/hear some forecasts.
Cashflow positive is just around the corner, especially if the CR is successful.
NTL is at critical juncture.
There has been promise made that some pretty significant hurdles to be overcome in a matter of weeks that shareholders have been waiting over a year for.
Without these hurdles being ticked of can they actually raise money for the same purpose they raised money a year ago?
They raised $1.7M plus the $300K to Terra Firma inlieu of future payments for work.
Seems to be a big burn rate considering how little they have achieved.
At the end of March they had $592K of cash, so it's a bit surprising only two months later they needed to tap a Director for $300K especially considering they have instructed Terra Firma to halt further work.
Maybe the $300K is partly to pay whoever ot is to do the CR, as the fees are usually substantial.
So what if only some or none of those are achieved in the next three weeks?
Remember they have promised to have access & a treatment option for the concentrate before raising further capital, which to be honest is only reasonable considering the last CR was supposed to fund all that through to being cashflow neutral or positive six months ago.
How long is a $300K loan going to last?
How much the processing plant will cost (for TFM to operate) is unknown to shareholders.
How long to decide on what unit they want, then ship it, install it, and test it - how long?? How much?
Mutter mutter ..are we there yet