In its 7 September 2011 presentation the company said that its Tucano Gold Project project financing, via traditional project finance facility, was nearing completion. They said that credit approval was imminent for a financing package of US$80 M from Australian/international banks offering traditional project finance or via a guarantee for low cost Brazilian Development Bank funding. Are they redefining the meaning of the word imminent? They also said that an Equipment Financing Package of US$20M was being finalised. Yay or nay on this one also? If they don't get cracking and a full blown credit crisis breaks out in Europe, they may need a plan B. Any thoughts? K ?
BDR Price at posting:
75.5¢ Sentiment: None Disclosure: Held
