... for Pfaffenberger and Madill's Goldrea interest.

Reaugh has attracted some debt financiers for the China gold mine ... to the tune of 16.5 million.

The parallels for Cancana seem to be there for attracting that kind of 'money' interest ... Vicarage being the 'hookup'.

Once Vicarage puts out their research note we will get the finance in place to gett'r all done.

Any comments?

"Goldrea Resources arranges $16.5-million (U.S.) loan

2011-01-26 09:09 ET - News Release

Mr. Larry Reaugh reports

GOLDREA RECEIVES FINANCING OFFER

Goldrea Resources Corp. has received the binding letter of contract offer from APEX International Investment Group Ltd., on behalf of Ryhat Inc. International Finance Luxembourg for an investment loan of $16.5-million (U.S.) subject to terms set out in their offer.

The loan would be a 10-year zero-based bond issuance at a coupon rate of 7.00 per cent per annum payable annually in arrears with a balloon payment of $16.5-million in the 10th year.

Acceptance by Ryhat Inc. is subject to:

1. Valuations and appraisal of the Rushan mining asset;
2. Standard commercial security over the assets of the company;
3. If required an insurance bond to cover sovereign risk;
4. All government approvals to be in place for the smooth transfer of funds from China to Europe.

There are several of these terms which are currently being evaluated by management.

The loan would facilitate the company in underground development work and the sinking of a 1,500-tonne-per-day (TPD) shaft at the Rushan/Goldrea project in Shandong. Management is currently reviewing the offer and will be reporting on progress as it becomes available.

We seek Safe Harbor."