News: SLR Harte Gold Announces Execution Of Subscription Agreement And Loan Agreement And Makes..., page-52

My apologies @PulpCutter and others - I've got the figures wrong. I've been tied up in my day job so haven't been paying proper attention. Still nowhere near $104 million though.

I'll have another go based on the 8th December announcement - it should be noted that I'm assuming that the SLR paid the full face value of the Loan facilities of around 66 USD million plus the 10.8 million CAD which is about 8USD million giving a total of 74 USD million outlined in the announcement I guess.

	BNPP (inc 10.8m)	74.1
1	Appian	28.0
2	Other	3.00
3	Hedges	20.0
4	Total USD	125.1
5	FX	0.725
6	Total AUD	172.6

On top of this is creditors etc some of which can be offset by inventories and cash. Arguably the 10.8million CAD should come back to us if it's used to keep producing.

Then there is the 21.8 million CAD or say around 24 million AUD to lift production - so all up say around $200 million to lift output to around 100,000 ounces per annum. It's worth noting there seems to be have been around 200 million CAD sunk into plant infrastructure and mine development.

I still think its good value if SLR can make it work which I don't see why they can't.

Any purchase here in Australian would have required a premium to be paid as tiddlers always ending up greenmailing the bidder. And there is no way a mine with almost 800,000 ounces of gold reserves and significant exploration upside would go for anywhere as cheap as $200 million.

Its worth nothing that Harte's reserves can be believed, they are larger than Mt Monger or Deflector respective reserves and with a higher grade of 7.2g/t.

Time will tell I guess.

@albatrosss - this is all I can find on hedging - either way it's small fry if we get almost 800,000 ounces of reserves with another million of indicated resources.

If you hop on their website there is a lot of information on there worth reading though.



GLTA/IMHO