The DoucheBank debt facility couldn't be finalised until all mining permits were in place.
A higher gold price at time of finalising the facility will change the number of oz's tendered into forward sales.
The initial capex is $42m but the company will require more. The company hasn't clarified how much more they need but it doesn't take a genius to stick a number of how much more. Telsor's assertion that the option money had been factored in, is completely incorrect and has no effect on the debt facility.
Yes, they will be drilling to expand the resource. Ruby Lode and other recent finds are not included in the current resource inventory. I believe they are hopeful of proving up 1m oz's.
The company should offer a soft rights issue but I expect them to place stock to get the lions share of equity funding in the bag. There is no clarification from the company at this stage on how they will proceed.
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