@Brett_franklin I agree that CR after financing would be optimal from a perspective of minimising dilution, however I do wonder what if the banker's point of view may divergent from the ideal. KFW-IPEK may put up the Senior 40M USD on the condition that the balancing parts of funding are secured. Would the bank needs assurance that it is investing in a mine and not half a mine?
November 30, 2016, page-6
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