No it's not imo. No one in the right mind is going to lend that amount of money on hope and possibles which may never eventuate. Banks and financiers are not stupid. They look at the at worst case scenario and see how risky this thing is. This wouldn't pass any conservative tests. Bearish scenario sees copper say at $2/lb (which was around there in last commodity bust, even at $2.50/lb I reckon this would struggle) and that's a long way from their $3.10/lb. Also the jurisdiction discount rate used is too low at 8%. There is definitely a higher risk in SA.
ORN Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
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