The pickle they find themselves in is that at the current share...

The pickle they find themselves in is that at the current share price, the market cap is a bit under $15million with low cash on hand. They really needed to get overseas investors on board much earlier than present to help keep the share pricing heading north. They dont have a great deal of further drilling to do but still need to do the Definitive Engineering Study and Bankable Feasibility Study, both of which require money to complete. Investors would wonder why they would give Ferrowest say $10 million when the company is only worth $15 million. I dont really know what their best option is but they did say discussions on more favourable terms were continuing. I am of the opinion that 50% of a project that is advancing is better than 100% of a project that is going nowhere so if they could get a 50%50 JV happening, it might generate more interest and mean the project is more likely to get off the ground. At present, the share price is taking into account the likelihood of the project getting to the production stage which is why the share price stays low.