Besides the amazing transformation of the balance sheet (which now includes $136 million of cash or $9.37/ share), the guidance for Lebel was interesting:
The Company is currently in the process of exploring strategic options for the FGC mill project to mitigate the financial
risk, including alternative financing structures, joint ventures and partnership opportunities. While the project economics
continue to be attractive, the Company will be comparing the FGC mill investment opportunity to other strategic options
for shareholder value creation. The Company is currently in discussions with prospective equity investors for the project
and is in the process of discussing potential revised terms for its project financing to provide greater flexibility. Due to
changing economics and market conditions, there is no assurance that definitive investment arrangements will be
concluded or that the FGC mill project will proceed to completion as previously planned. The Company intends to report
its decision regarding the strategic direction of the FGC mill in the third quarter.
They're already in talks with equity investors; news to come out in the next 1 1/2 months. Could be really good news.