I assume you mean a bank is not* going to lend you 100%.
You still have to take into account the rest of the money we need to get, you can't base the calculations around 60% of the funding because we need 100% of the funding, wherever it comes from.
As above, if it comes from pre selling production at a discount, that will take away from future cash flows in your calculation.
How have your calculations gone James?
hillside- what is it worth, page-5
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