HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Pipeline

Geez, You should calm down. I'm only making discussion on what I thought is a very relevant issue regarding the strategy of the company. Assuming that you want a response to your questions:

I think it would be very difficult to get a loan from a group of banks on any sort of decent terms. There is enourmous risk from the banks view in providing the necessary capital to build a mine. Especially when the firm has only a 200M market cap and may have difficulty raising another 800M or more (400% of its current market cap!) to pay the bank loan back in worst case.

Pre selling the ore is an interesting possibility. Currently the longest futures are what? a maximum of 3-5 years? There is a reason for that. Firms don't have plans for how much materials they need on a longer time horizon. I doubt there would be enough demand for the type of contract that you suggest to make the terms favorable.

Why do you want NOT to get into the business of building a mine instead of selling themselves to someone with the capital and expertise to do it?

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