June 26, 2013 06:08 pm
Well-put, nothing else has changed with the project. The Haywood report specifies that this is based on lower than expected zinc prices.
The recent financing news follows three other ‘final’ financings completed since March 2012 that were designed to fund the Company to production. However, we are now under the impression that unfortunate circumstances (namely, a languishing zinc price) have left Donner facing another funding gap ahead of generating positive operating-cash flow at Bracemac-McLeod
That final financing by Quebec institutions in Feb was done when zinc was $0.99 and copper $3.75. Times are tough. It's just too bad Donner didn't get the "in production" re-rating that Haywood predicted before now.