>>21066535Sure, go ahead if you want to be diluted out of your position. Wait, what? You say since they are buying Florida Canyon they will have FCF to bring their other projects online? Assuming that all the capital improvements are completed on time and on budget, Florida Canyon will still lose $5M in 2024. FCF for 2025 is estimated to be $11.8M. Without Florida Canyon, ITR spends over $20M annually in G&A. Any FCF from Florida Canyon would finally cover ITR's G&A by 2030, by which time Florida Canyon will have stopped mining and be processing only residuals from the heap leach. The final three years would result in only $25M FCF, not enough to cover G&A. These calculations don't even include any work or holding costs for Delamar, Wild Cat or Mountain View. For ITR to advance anything, massive dilution will be required, despite having a producing mine.
t. short ITR
