you got me wrong. i wasnt comparing BKT's funding situation and saying BRV will find it hard to get funded. To that point however, BKT (when IRR was 48%) found it hard to get funded (half the amount BRV needs) when the market conditions were bullish for it (pre trade war and covid).
I was only saying, funding is not like you and me going to a bank and getting a mortgage for a house.. been in that sector long enough to know how that works. Infact to note, BRV IRR is lucrative only at current bullish gold price, otherwise under normal market conditions (ie. if gold were back at $1450) then BRV IRR is lower than BKT and it needs twice as much funding as BKT (close to a $$ billion).. thats not lucrative at all..
okay now lets get down to basic of mining and production.. hypothetically if BRV gets funded today and started mine works, even with the speedy gonzalles working 24/7 the mine will start producing phase 1 only about 8 months from now (best case, which i highly doubt is possible with Covid looming over our heads).. so to be fair lets say procurement, construction, testing, and actual production in that order will take not less than 18 months.. Now whats running in investors's heads (if i was one) would be.. in 18 months, i cant predict where covid would be.. what if its all over and economy starts to rebound (could take another 18 months from there), then Gold could settle back at around $1500.. lucrative high IRR has now gone back to around 40%..
Now lets come to the negotiation table. with current Gold price BRV has upper hand at getting a better deal with financiers.. why would you fund the project unless you were certain that Gold will tick around $2000 and stay there for a while right? if your not certain about that, you'd want to wait to see gold price stabilize and get an upper hand at negotiating a deal with BRV right?
bottom line, i dont expect BRV project to get funded in Sept.. its gonna test the stability of Gold price for a while.. but like everyone, i can only hope it gets funded soon.. i want to see this baby take off too.. but i'm being radically clear with the facts..
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