Ann: $10m Funding to Advance Drummond Basin Exploration, page-37

Nothing to do directly with GBZ, just an interesting comparison with some blue chip financings.

Two profitable German billion-dollar companies placed new corporate bonds this week:

Fresenius 20 billion A$ marketcap: interest rates 4% (old bonds had in average rates of approx. 1%)
SGL Carbon 1.2 billion A$ marketcap: interest rates 5-6%

Fresenius Medical Care places bonds with a volume of 750 million euros | Fresenius Medical Care

SGL Carbon SE to issue approx. €100 million convertible bonds due 2027 and simultaneously launch a tender offer for its 3.0% convertible bonds due 2023 (ISIN: DE000A2G8VX7) | MarketScreener

The era of cheap money is over.

10.5% interest rate for a high-risk explorer burning money, with a later conversion of debt in shares with a 50% premium to SP when the deal was closed, doesn’t look so bad in comparison imo.

Yes, GBZs finance package came too late. But I’m pretty sure: A lot of our peers will struggle to find fresh money at all in the coming months.