Hope that AEM is more co-operative than HBM has been with CAA

Once these royaly streams start and become regular, then funding is not an issue to explore additional properties.

CAA has a similar share structure and several projects, a near perfect image of PRB.

AEM will evenually come clean and provide PRB it's fair share... New resources are being accumulated on the royalty property. Not sure how much has been produced so far but evenually the production will be significant.... Question is do you monitize it now, or be patient and wait for that vintange to mature.

The chromite is in the same boat..... rushing into an agreement may reduce the value to PRB.

If I was Dave I would have done a $2.00 FT placement with a $3.00 FT wt in Dec.

No rush now as FT time is done for now, but I have seen a new financing where the Placement was for common stock and the wt is flow through.... adds incentive to exercise.... This would be a proposal for right now but the premium for FT is over....If he was to do a $1.75 with a $3.00 FT wt, I would partisipate on those terms right now... 2 million shares and 2 MM wts would not be very dilutive at this time...JMHO

Best to raise small amounts along the way, and is easier to raise money when you are not desperate. I like to see companies with robust cash in the bank, keeps the monkey business involved in funding under control.

That would have provided funding for a large scale drilling program and buy valuble time for negotiations to maximize value of assets to shareholders.