The fact that overburden costs and water drainage problems are much reduced at Minago is good news.

Being able to do the overburden removal without dredging is a major benefit both in costs and in speed.

The sooner the overburden is removed, the sooner that gravel quarrying operations can begin to earn some early cash flows. Reminds me of how Novagold for years has been running a gravel quarry up at their property in Nome Alaska generating over $2Million/yr in gravel & sand revenues.

Of course, at Minago the bigger early cash flow prize will be getting the Frac Sand operation running. Leasing the Frac Sand plant & Mobile Equipment will greatly lower the initial CAPEX required to get this Frac Sand operation running. The sooner this can start generating more early cash flows of $65 Million/yr the better. Could even use these to self-finance the Nickel mine over a few years - should other financing be unavailable.

All is not lost.

Regards,

NbrCruncher