The opposite actually, the bank hedges against the loan they provide, risk off, they win either way.
Smart operators, the ones you won't find running company's like BGL, NST, EVN have dumb ways of doing things because that is how it has always been done.
Do some math's for me because you are so smart $182million today spread across share dilution, preferred stocks, corporate bonds. I am not here to educate you on how real managers do business but the bank has taken you for a ride, so enjoy.
So you know, every time the gold price rises it is reversing the margin on the other 17%, Cost rises in relative terms, profit shrinks in relative terms. The $182 million compounded over the life of the project is probably $1 billion dollars.
Ann: Commercial production declared & expansion studies commence, page-17
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