re: Ann: POSCO to Invest in the Coburn Zircon...
Manila, 28 million earn in fee, no shares issued, thus no dilution of shares on issue, a goodf deal. Also means GUN should not need to issue more shares to raise funds, once again good, no futher dilution of shares on issue, keeps a tight share register, dont forget Tilbrook holds close to 30 million shares, when the insto want to buy in they will have to pay. POSCO to fund 40% of capital cost, GUN the other 60%, funding to come from a korean investment fund, who have allready completed due diligence, so it should not be a major issue. The financials of the project are very sound, payback i believe within 3 years, i could bo wrong here, but a payback with 3 yeras is a very solid situation and most lending instutions would jump at this. So all in all IMO a very good result. Cheers
GUN Price at posting:
16.2¢ Sentiment: Hold Disclosure: Held
