I doubt they have locked in a hedge price at this time.
I do not like MacBank getting involved. Somehow they always manage to screw more out of our goldies, plus I think there is something shonky in the way companies in which they have access to confidential information (especially about their ongoing operational performance) leads to a lot of shorting at key times. wink wink - think BDR.
I think they will need as much as $100m for this project (to cover cost over runs plus working capital) in addition to their admin, exploration and evaluation spend, until they get into production. That means they could need another $20-40mm. I wonder how "kind" MacBank would be to extend them more finance or whether they would do a capital raising.
My 10 cent bottom call may not eventuate unless the POG cacks itself badly.
Takeover coming? - it had better come soon if they want this deposit on the cheap.
loki
GRY Price at posting:
14.5¢ Sentiment: None Disclosure: Held
