without a feasibility study, it is highly unlikely that the...

without a feasibility study, it is highly unlikely that the company will get $35m of financing. the measured resource for the prospect is less than 10,000 oz.


any financing would most likely require some hedging - and the hedging would only be done in relation to the measured resource.

for comparative purposes (for a small company), one should look at myg, who have a measured resource of 130,000 oz (at 4.3gm/t), and 50,000 oz have been hedged, as part of a financing deal. myg also has copper and silver - but the .

another small stock, which wants finance, is sxg - and they are doing a lot of drilling to increase the measured resource, doing a feasibility study, and then they will go to the banks, and try to get finance.

a recent announcement by bcn, is worth thinking about. bcn sold a high grade (40,000 oz at7.5g/t) deposit, for $4m - plus a royalty. the deposit was virtually given away, and the reason for the give away price, was that the company could not do a good deal with any of the toll treatment options.

all will be revealed when the half yearly results are released