RE: Constantly going down3 Nov 2020 16:34
Lafitte - CGP had around $800,000 in their piggy bank in august as per their latest financial records. They sold around $1.7 mill worth of their solg stock about a year ago to pay off debts. This was in addition to the former. They are burning thru dosh quickly, so I suspect they are offloading solg stock thru the back door.
Meanwhile NM is spending lots preparing the BFS which is due late 2021 I believe. This is expected to cost CGP around $52Mil! They are allowed to pay for this AFTER income is generated by the mine (post 2025+). [I beleive NM will take 90% of their royalties because of this}. The cost of building the mine (est: $2.8Bn) requires CGP to contribute 15% of that as the build progresses. $420+ million is expected from CGP - before during and after production!!
If CGP default, then NM buys them for $3.5m. Game over.
Z