It's a pretty tight capital market for junior resource companies presently and yes, getting $20m would be difficult..maybe impossible under the terms of the existing loan facilities.
The commissioning phase is always an anxious time (a bit like launching an ocean liner and watching to see if it floats and takes no water).
It's always advisable to have more than adequate cash reserves in such times and a CR is the logical answer.
That said, forget about instos and sophisticated investors. I favour a renounceable rights issue on generous terms such that we loyal shareholders get the benefit whilst shoring up the cash position.
How do you guys feel here?
How about we use this forum as a straw poll on the matter.
It's a pretty tight capital market for junior resource companies...
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