they need minimum $10m, by their own admission. Markets nose...

they need minimum $10m, by their own admission. Markets nose diving today, not great timing , regardless of what the gold price is doing.

Which bank would lend them that much $, without forcing gold hedging? And which bank would lend money when there are no project cashflows, only drains on cash. Look at the credit markets... how many billions of writeoffs have the banks had on bad loans this year?

Then TAM would have to say they are hedged, not leveraged to rising gold price and have debt. Yuck!!!

Has to be a big equity chunk in my view or some sort of complicated convertible note... Could be massive dilution for existing s'holders again.

The raising would possibly also require a shareholder vote.

Never investment advice, only opinion, often wrong, so do your own research, ALWAYS.