requirements for funding

Just had a quick look on the internet to see what sort of options are available for financing of mines. I'm assuming management are more in the know of where to look for funds, but it seems there are a few financial houses specialising in mine finance. Example I found on the net:

http://www.amenacapital.com/staticpage.php?pageid=13

This was just a quick search and I don't know much about the particular finance firm itself, but I do know a bit about finance. If we assume that the terms and conditions that other firms offer are similar to these, it's not bad.

100% LVR is good. It means the upfront equity component will be kept minimum... we only have about $5m in cash. Assuming that we are borrowing $50m, we are good for up to about 90%LVR. Any lower ratio used and we need more cash upfront.

The finance firm may be looking for an equity position as part of the finance deal.

The Assets they take as security is not too onerous assuming that we have what management has stated... Looks like they accept JORC compliant resources, Proven resources that are not JORC compliant.

I'm assuming the submission to the finance firms will have included all other things they ask for such as description, purpose, costs etc.

Let's see what comes up over the next few weeks...