The whole issue of funding is a bit confusing. In announcements they state that peak funding is $43m at a gold price of US$2,200. Obviously the gold price has improved hugely. The syndicated debt apparently provides 55% of total funding. The rest is provided by income and from the sounds of the announcement I think they'll do some sort of capital raising as well. It might be a requirement of the lenders but it's a massive downer if it happens as they would be far better raising latter on as they move closer to achieving gold sales and at a higher share price.
I think that's why the share price spiked initially but hasn't really followed through.
I mean how much is peak funding at at a gold price of $2,900?
WWI Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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