$125 mill capex is a lot of dough.
Do we really need it?
Raising same wont be easy & will be at considerable cost.
So, there Is an alternative......
Put Trilogy aside as money in the bank, and just start simply with the gold, and finance the rest ourselves from profits...
We are due for retractions in metal prices. Read a couple of days back that metal prices will HALVE in the next 18 months.
Maybe they will, maybe they wont.
Why take the chance?
Mine the gold & finance the polymetalics from the profits.
Start small & grow.....not start with $125 mill debt & crash.
Yeah, I'm starting to get nervous (more) too..
We could start a gold operation a lot sooner than 2012, right? And a lot cheaper....
Try to get too big too soon at too great a cost and we'll duplicate BHP Ravensthorpe's stuff up.
Volatile times, Robo, old sausage, we have to have SOME measure of certainty.....
GZ
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