If the plant is shut down what would drive down costs aside from the obvious expansion costs? We made 1m last quarter (opening cash balance more or less offsets costs for the quarter) , we have another 1.1m from financing and also another 1.5m from the capital raise (net phase 3 exps). That would suggest we have 3.5m for working capital. Do we continue to pay staff while the plant is idle? Presumably yes.. Question how far can management stretch this amount until phase 2 is operational.
IOR Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held