Feel like management still keeping us in the dark..
Last announcement Third Treatment Campaign at Lakewood Mill, stated that next campaign will start in second week of April. Seeing that nothing has been announced one would guess that fee's are still outstanding or they are focusing on the lost gold from MXR. Good chance MXR will go under sorry to shareholders.
Financing arrangement for the JV was changed in Mid January. As of mid-January 2018 the PFJV had been invoiced approx $8.4m inclusive facility fee, and the PFJV re-payed approx $5.1m.
In February the JV completed the third treatment which produced 8.5m in income, which I think will take a month or two til the gold is sold and cash is in bank.
Outstanding debts would be $3.3m + 600k (refinance cost) which should have been paid from last campaign.
I guess its not too long til to we find out if operations have stopped while we recoup our losses from MXR or we are still progressing.
DYOR
ERL Price at posting:
1.4¢ Sentiment: None Disclosure: Held
