I realise Credit Suisse have a mandate to arrange and underwrite a project loan of up to 45mio but what are the conditions. Are they best for Alkane. Is the loan tied to the hedging facility or is the hedging facility with CS a separate component to the project loan?
Off memory the hedging facility with CS was at 163000oz at $1400oz. Compare that to a forward sale hedging contract of 90000oz at $1600..
Why would we forward sale at $1600 now to raise funds when there is a good chance by this time next year we will selling at $2000.
We closed on Friday arvo with a wide spread. Most of the buys look like they are hidden but looks to me like we had a buying bot in operation on Friday..
I hope no CR but is it completely out of the question.
Perhaps someone should start a new thread on financing. Much to discuss..
ALK Price at posting:
99.0¢ Sentiment: Buy Disclosure: Held
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