If we manage to get a large chunk of debt (highly doubtful I would have thought) instead of equity to fund this the terms will surely be horrendous.
AJM only managed 14 to 15% + a big whack of shares + a 3% facilitation bonus to get their deal across the line and they are in a safe jurisdiction from the point of view of the money lenders.
I've got a feeling we are going to get absolutely taken to the cleaners to fund the cap ex. And with a mine AND a chem plant to build....
Still should work out well for most holders in at these levels, but I'm not looking forward to that announcement at all.
BGS Price at posting:
22.5¢ Sentiment: None Disclosure: Held