7 million banked market will be surprised , page-2

I agree Cantona, this is a fantastic deal, coming from where the company is in terms of market capitalisation (sub $3mill at 0.4) and also in the current environment where funding for junior resources is still hard to come by.

In terms of the balance sheet it is a fantastic result with regards to the accelerated pay down in debt to Anglo Pacific Group with the company effectively having paid down their instalments under the standstill agreement out to the payment in October 2015. By that stage there will no problems paying the last $1 million through cash flow or via milestone payments from the Silver Stream Deal.

Just remember this company was capped at 10 times this only a year ago when they didn't have their 3 million oz exploration project at Tumi, they didn't have a mill solution and they hadn't made the disseminated discovery at Tessie, not to mention they have done another 12 months of development work at Torrecillas.

Not to mention selling 10% of production for US$5 millii, as I've said before does that imply a valuation on their production assets alone currently of US$50 mill? That's one way to look at it.

Anyway, good luck to all holders

DYOR