Silver stream must see some value in the project because the...

Silver stream must see some value in the project because the payback looks to be a minimum 2-3 years away before they start generating a profit on their outlay at a glance.

If Minera sell 10% gold at $400 loss means approx further 10% to cover it so any profit is on around 80% of production (assumes $1200 gold price, $800 costs), assume the silver is similar payback duration.

Notes outstanding this month around $600k worth including interest plus the new note recently issued. I'm assuming the new note is on the same terms as the old ones 18% interest, 20% vwap discount or 0.8c. Problem with the notes is they get converted usually near lows. Best case scenario assuming new note(s) are on same terms is likely 0.8c if MIZ goes higher.

My best guess is 3-4 billion on issue in coming months based on need for working capital, notes outstanding etc and profit based on approx 80% of production for gold/silver on assumptions above tied to streaming deal.