Our current Long Term debt is on great terms signed back when credit was extremely cheap. A new long term facility, even with better security, is very unlikely to be on better terms!
Also note the capital raising @ 28c pays off the 80m Goldman.
Couldn't new exploration and the new gold mine be funded out of cashflow instead of selling out to GRAM (who are getting 20% stake without paying a premium - also 39.5c is cheeeeap considering our assets).
With the 80m paid off by the 28c placemement and Stafford has said free cashflow should be upwards of 100m yearly. Isnt this enough to keep the ball rolling without GRAM??
PNA Price at posting:
37.4¢ Sentiment: LT Buy Disclosure: Held
