I read this portion of the past news release to be a public signal (maybe to Teck) that E.E. is tired of putting more money into this project. He dumped cash into the completion of the BFS knowing he should get a 4x return. EE is now putting pressure on Elmer to get this project complete. Otherwise get more money from a public PP. JMO. The key question here is, if there was to be a delay in the BFS, this NR should've hinted to that explicitly. Rather it states the only work left is completing the Mine Plan by Mar 31st.
The final issue is whether or not the reRE will require more funding to complete. I think if we want it complete withing 120 days, it may require it (speculation). Then finally comes the prospect of expanding mine plans during the 120 days if Teck lets the clock run. It now appears that Teck is willing to sit on its hands and drag this out... it could be related to the Galore project situation which remains up in the air.
Could a mine plan be completed within 30days??
The Company believes that it will be able to raise the capital required through the continued exercise of its outstanding options and warrants or through the public market. Although management has been successful in raising capital in the past, there is no assurance that these initiatives will be successful in the future. Circumstances that could affect liquidity include early positive or negative results from the feasibility study, the general state of the equity markets for junior exploration companies and the overall state of the economy.
