Seems like one example of what can be done in a bad debt market and shows that money is available:

Vista Gold plans US$32mn placement to buy equipment - Mexico
Published: Wednesday, February 13, 2008 11:23 (GMT -0400)

Colorado-based Vista Gold (TSX, Amex: VGZ) intends to complete a US$32mn brokered private placement, a company statement said.

Proceeds will fund the purchase of processing equipment and ongoing operations for its Paredones Amarillos gold project in Mexico's Baja California Sur state.

In early January Vista signed an agreement to purchase US$16mn worth of processing equipment for Paredones Amarillos, including a 10,000t/d SAG mill, two ball mills, a gyratory crusher and a shorthead cone crusher, as well as other parts and components.

Vista plans to offer up to US$32mn in senior secured convertible notes, convertible into common shares at a conversion price of US$6.00/share.

The notes will bear interest from the date of issuance at a rate of 10% per annum and will mature three years from issuance.

The transaction is subject to the approval of the TSX and Amex.

By Business News Americas staff reporters