Barrick Gold eyes De Grey Mining, page-133

I discussed Barrick and also Newcrest/Newmont because of the repeated fake news about a takeover from gb girl .Must be the 20th time she has raised similar fake news.
I also raised the issue of the new labor Aussie federal government becoming more interventionist and making it more difficult to get permits for mining to bolster its “green credentials”.Lo and behold, I read today that the federal minister denied a permit for a large coal mine in Queensland citing potential issues with the Barrier reef.
While this may or may not be of relevance to DEG it seems to me that it may become more difficult and take longer to get environmental permits .I track Australias largest silver deposit and its been waiting well over two years for permits to build a mine .Can’t imagine any bank would be foolish enough to lend 1-2 billion to DEG without environmental permit’s in hand .
Interest rates are continuing to rise worldwide making financing a big mining project ever more expensive .
Can’t imagine any bank lending more than 50% of the cost of the mine which I think will end up closer to 2 billion dollars than 1 billion .The rest will be capital raising which at current share price would be 500- 1 billion more shares .
I dont own deg for all the reasons stated ,i own other Aussie mining stocks and have been a gold bug for many years ,doesn't change my opinion about the extreme difficulties in funding such a large mine .Much cheaper and more profitable and less risky to buy a company with an existing Mine which is being expanded with existing cash flow that would have been the better and less risky strategy for deg to persue ,build or buy a 100,000 ounce per year plant and then expand it ,this is what the extremely competent group running the beta hunt mine is doing .