The statement “often you can't get a debt facility without an accompanying equity raise” is correct for miners who are not in production or turning a profit. Now Aurelia are making money again and have cash behind them, banks are far more willing to finance projects like this without an equity raise. Of course I am not a banker and this is only my opinion, but I have seen enough over the years to feel I can say this with a good level of confidence. We will see in the coming months, but an equity raise at these prices would not be in the best interests of their shareholders and honestly I feel is not necessary.
On another note, the gold price just thumped through 2,000USD/Oz (3,000AUD/Oz). I think this is perhaps the 4th time it has attempted this level of resistance. The coming days will be interesting to see if it holds above this level. I expect to see a green board for the Aussie gold miners tomorrow if this price holds.
AMI Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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