Neighbours Cupric Canyon announce US$565m funding deal for mine, page-6

Hopefully the below is not too blurry but essentially I have attempted to reverse engineer out the stream deal done by Cupric to see what, on the same terms, MOD could be looking at for a similar deal.

Using the terms of the deal - that is the streaming company take 80% of silver production and paying 20% of spot.. and assuming a real spot price of US$18/oz Ag and real 5% discount rate for a streaming company I figure MOD could get US$80m for a similar deal (using a 30mt mine plan @ 16g/t Ag). This could be sufficient 'equity' to finance a US$200m project, and MOD could use a debt facility such as used by Cupric to fund the balance (not the +11% LIBOR for the subordinate debt tho!).

There are big cons of streaming such as the streaming company taking upside to future discoveries but its an option available should the SP still be lurking in the 30's and no suitable JV deal. Food for thought..