Well when we had the deal announced Tin prices were rising but around 35% lower from where it was when we did the deal if I remember correctly. In any case even at these prices return will definitely be high, just look at Metals X and their Renison mine, very expensive underground mining, but yet still profitable and that too with them owning only 50%!
I would agree with you on the tight lending environment as well. the $10 million facility would help but we would definitely need more cash to get further after all projects drilled with a defined resource. Wonder if we management would be able to have a larger facility, it would not be dilutionary until drawn down, but would be a solid base for us especially in a tight environment, plus in comparison to doing an on market raise it is cheaper only 10% discount. with a raise it is up to 20% in many cases and + 6% broker fees, plus god know what other misc fees costs.
EVR Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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