Following MC and dilution, I found this in 30/Jun/15 Management discussion:
Project Financing
The project will generate strong early cash flow with a payback period of 14 months at US$1,300 gold, and average annual production of 69,000 ounces a year for the first three years (ASX, TSXV: 23/2/2015). The Company intends to finance the development of Mankarga 5 predominantly with senior debt to minimise equity dilution and maximise returns for shareholders.
The Company has engaged Nick Harch to undertake project finance discussions with potential lenders. Nick is Managing Director of resource investment advisory firm Orimco Pty Ltd and was formerly an Executive Director with Macquarie Bank.
I hope the BoD keep their words.
DYOR please
Ann: $12.5 Million Raised in Heavily Oversubscribed Placement-WAF.AX, page-12
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