Ann: Mutiny Gold Ltd books $11m profit , page-33

I pretty sure it will be two banks, I doubt 3. When I looked at financing this JG was adament he wanted an Aussie bank on board if at all possible. Also CS were only up for half of the debt. All the banks & Sandstorm will rank equally for security ahead of shareholders. This is normal & no bank would lend if they weren't ranked first equally. The only difference is there is no share holder equity raising so it is 100% debt financed which is very unusual but great for shareholders as the dilution affect of the Sandstorm deal is only around 12.5% when the copper is taken into account. If they had to raise the amount that Sandstorm offered they would need to double shares on issue at least. All in all its a very positive outcome for shareholders, its not an easy market to secure debt in particularly for juniors so to get 100% debt financed is a fantastic result IMO