One observation... Repayments between 18 and 30 months means the facility will be approx $110M US by the time repayments start, and the total to pay off will be somewhere around $114M I would estimate. This needs to be paid off in 12 months, which means approx US$9.5M per month.
Since it will take approx 12 months from the date of drawing down the facility to get the mining operation started and running smoothly, this basically means repayments start concurrently with revenue (NCu notwithstanding).
Will be interesting to see what happens with the divis people are expecting, they may potentially be put back until the debt is paid off?
CDU Price at posting:
$2.14 Sentiment: None Disclosure: Not Held
