idc, gold and the golden cross, page-8

Ok, thanks Assy ;-)

Actually heard the same thing re: the funding facility from a fellow poster who says he spoke to a credible source. So assuming you are both correct in your interpretations, that would be very good news as it keeps the doors open for 18 months at least. i.e. $10.8m / 18 months = $600k per month to cover admin, small improvements & outstanding repayments etc.

Of course I always like to imagine the worst case scenario when making my investment decisions, and the equity facility would be a welcome backup in the unlikely event that the equity raising fell over for whatever reason.

But I seriously doubt the major players like Capital, Baker Steel, Genesis, Black Rock and MCA would let this happen when we are so close to a decision to mine and finding more high grade ozs via the adit.

Not suggesting that this be the case, but IF for some reason the $15m were contingent on an additional $3-$5m and there was no further interest from new investors, then surely our major holders would pitch in another $600k each? Certainly not an unreasonable amount for the BIG end of town IMO. And then there's the board and management's ability to pitch in in an emergency, taking into account their very reasonable salaries IMO ;-)

On the flipside and best case scenario, we could be looking at @$30m or so in total funding, that being $10.8m over 18months + @$20m up front.

Looking forward to next weeks events, will be very interesting to see the outcome, who pitched in and the on market reaction from retail shareholders.

Enjoy your weekend.

Cheers
Elpha


Note: my opinion is mine only and in no way am I offering advice of any kind. Please DYOR.