Including the warrants at 25c...you're talking around 12.8-13.1% cost of debt (ok,excluding the bond) for the loan facility. You're free to decide whether 13% debt financing is competitive (and the warrants are not free- they do have a cost). I maintain it's expensive & that a 13% project financing rate would destroy the viability of most projects in Australia. It won't here because of the grade of the deposit.
Including the warrants at 25c...you're talking around 12.8-13.1%...
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