Just as a note.
Sandstorms deal won't rank equally with senior debt. It shouldn't be a hick up for financing UNLESS it impacts the cash flows of the project considerably.
If the Sandstorm deal has the ability to limit the debt capacity of the project then it was an rookie deal. If Sandstorm knocks the debt capacity down from say 60-70% (even though senior lenders wont lend 70% it's just not done) but if that is the problem then the project has bigger worries than what we might be thinking.
great wall of china, page-25
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