without seeing the detail suggest $120m would include all mining equipment needed, decline development and most likely a paste fill plant and the crusher upgrade. then working capital ( pre strip, stockpile build , consumables , ramp up etc ) . Plenty of options to fund this without reference to shareholders. If this it was to be 136koz at an asic of $1616 , the payback period would be well under a year. With a solid reserve position and credible mine plan certainly a strong candidate for debt financing. NST paid back its initial Paulsens debt in 9 months or so ( from memory ) so will history repeat here?
SPR Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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