New debt has primarily gone toward the new scrubber/processing plant/mobile screening plant on top of the XRT machine secured with cap raise. Company will be doing well if they can be increasing head feed rate from 50tph to upwards of 150tph with this new processing equipment, would suggest it is perfectly acceptable to introduce new debt to cover these outlays/set-up... Will be very favourable to existing shareholders if they can pull it all off without another CR. $5mil in debt YTD is nothing when you consider the free cash flow potential of $3mil - $6.4mil per month once things really start ramping up as per Empire Capital Partners report.
MED Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
