financing galoc phase #2 ?, page-5

Boise,

Imo, I don't think there's any problem with financing, at least for ph II anyway.
Btw, the BNP facility actually covers 60.28% of the OEL ph II capex.

Of course the caveat for that is a successful ph II production scenario, at, or better than anticipated. That will ensure revenues/profits and loan servicing can continue, with a smile to everyone's dial.

Original financing for Galoc ph I was estimated at US$86.4M, but delays in the development program (for a number of different reasons) caused it to blow out to $118 million in the end. That was an increase of 36.6% ($31.6M).

I hope that scenario doesn't repeat itself for ph II, otherwise there will be financing trouble.
Let's hope lessons learnt during ph I can mitigate a lot of that risk.

Btw, I don't think Matt would appreciate being called "matter", even though we all are!