Just a little background mining information for MMTE/TTXP. Since the latest 8K indicates that TTXP will be a partner with 20% rights on a copper mining operation, and MMTE is supposed to merger with TTXP, such information is a good refresher.
Feasibility Studies - This has not been done yet, but once a 43-101 is finished (that is not done either), this study should be forthcoming. Feasibility studies are various scenarios tested (at different metals prices) to determine if the deposit can be extracted profitably. The last such study is called a 'bankable' feasibility study as it is used to secure funding. Note that no such funding has yet been secured for the TTXP mining operation (Lazerson is looking for William to provide the funds for the 43-101).
Early stage work requires funding through equity finance (i.e. offering shares for funding, and thus dilution) but later-stage projects can utilize debt finance (i.e. borrowing cash). Large companies can also take on corporate debt, often split between so-called 'mezzanine' debt (medium risk; shareholder loans and debentures) and 'senior' debt (low risk; secured loans). Note that William already utilized shareholder loans for the lithium operation which produced huge value for all investors.
Most metals require significant processing before they are in a form that can be traded, and the cost of infrastructure required for processing can run to the hundreds of millions of dollars (junior miners cannot raise the money for such, and therefore typically fail). (Note that the prices quoted on the London Metal Exchange often relate to 'four-nines' purity, i.e. 99.99%.) This requires substantial capital expenditure, expertise and infrastructure, and so the sector is dominated by large companies. If juniors discover base metals, they tend either to sell the prospect to a larger company (directly or by being taken over) or develop a mine and sell the mineral at the 'concentrate' stage which dramatically reduces profitability.
http://www.mining-journal.com/knowledge/Mining-101
However, we are getting ahead of ourselves here. Lazerson did not have the money for the resource study, and that is why he is partnering with William. If one assumes that a resource study will be done, then the time and money required is the next obstacle --- better have a year or more to wait for this, because a lot of work and cost is required.
Additionally, lets say the 43-101 is obtained, and mining will commence (lots of assumptions here, because we have not even talked about environmental studies or cultural impacts on indigenous populations). Where will the money come from for all the heavy equipment required for overburden removal, hauling, and excavating?
