Apr. 9 at 12:07 AM
$STEX The silver product is "targeted for Q2" but no firm date.
They raised
$55M in equity (dilution) to get to
$20M cash,
$9.7M marketable securities,
$23M gold. That's ~
$53M in assets from
$55M raised — meaning essentially all operating spend is burning through raised capital with no revenue offset.
$100M in "non-binding indications of interest" is literally just people saying "yeah that sounds cool" with zero commitment. One month post-launch and they've got 3,000 oz — that's pocket change. If even a fraction of that
$100M was real, you'd see something by now.
