Richmond market cap $25mil and loan $170mil ($9mil initially + $161mil project finance), so 7xMC.
If 7xMC gets 20% of the company, then 14xMC should get about 40% of PLV.
Thats what people are saying about the capex. Its alot to fund for such a small market cap. Rules out an equity raising, although I would expect a portion would need to come from cap raising. 100% finance is not that common, not when we are talking these large sums. Would need alot of hedging too.
Not saying it cant work, even at 60% it would be profitable at this entry price. But its not an easy negotiation and could drag on.
PLV Price at posting:
25.2¢ Sentiment: Hold Disclosure: Held
