Hi Curioswon You are correct in you calculations. The banks are...

Hi Curioswon

You are correct in you calculations. The banks are asking HGO to try and extend mine life by either further exploration or looking at joint ventures. If HGO only refinance their current debt the Giant pit will be enough to pay down their debt, but I may be wrong here but my research tell me that HGO are looking to borrow more money then they need so HGO can be in a position to seek other options if needed to. I believe this can be a good thing as HGO finally realise they need to start looking into the future if HGO was going to be around in 15 years time or more. I will post more as more information comes to hand. The finance deal will be done very shortly and then we will have a better idea which direction HGO a likely to take.
Cheers