I would think the next lot would be CAPEX funding for Owendale....

I would think the next lot would be CAPEX funding for Owendale.

I would imagine they would aim for that funding to come from a strategic partner, i.e. someone who uses HPA or Scandium or both and the contract would include some sort of offtake commitment. That's the dream anyway. If they get that and you aren't holding then you'll have already missed the boat.

Wouldn't surprise me if CN sees more potential in funding from HPA and hence the reason for the recent pivot. Scandium is still at the stage of "build it and they will come"(or not as the case may be) it seems.

The predicted CAPEX for Owendale is small but it's still larger than our current MC. One would therefor think that we will almost certainly need to take on some debt as well in order to fund the project.

Cheers,

DMac