that wasn't so hard was it..., page-34

Just talking aloud, if news was to come that was not the successful arrival of the $15 m, then what could it be?

If the Balkan contract is unconditional, BMB should be able to take out a loan – even just $500,000 to get through another 2 mths (assuming a slow down in expenditure)
So that situation allows for legal processes to potential get a reasonable foothold.

CR is possible but it would need to be around $3m and yes they will eventually find a guarantor / underwriter; and yes the sp will plummet to say 8 - 8.5 cents and then even lower a few weeks after the closure of the CR. Also the CR would need to be followed up again say Sept / Nov if Balkan sell off was not resolved. So that would be a bad thing.

Introduction of a cashed up equity partner is very interesting, as BMB would loose say 40% – 51% interest probably just in Nowa Roda. The advantage is potentially no CR may be needed after the final feasibility study is carried out. They may be able to to get a loan and go straight into mine development and then production. I dont have enough experience to know if that situation is a good thing; but my gut feel is it would still be positive overall – just not a 10 bagger.