I would agree to say yeah banks are greedy, but they do not like risk either, if you are a private business owner or self employed, they will turn you down, because they consider you too risky, they want to see stable secure guaranteed weekly pay. You and me and everybody else knows the gold price trends upwards throughout the years, but the bank probably carries the view (what if the gold price crashes like it did in 2013) no matter how temporary it is, the loan still needs to be paid of.
To get mines like this up and running costs a lot of money, so they either got to borrow it or massively dilute the sp further with a massive CR.
Ann: Commercial production declared & expansion studies commence, page-9
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