As I understand from the recent ann, financing will not be an immediate issue until first half of 2013, once the appeal re the pine tree man is deemed to be ridiculous. Or possibly end of November there is a date set also?
I would give mgmt the benefit of the doubt that they are aware of the possible funding options, including the Cluff arrangement with Samsung, if I was aware I would think they would be! They have communicated in the past their endeavours to minimise dilution and ideally obtain 100% debt. There are a couple of funding packages been approved recently that I am aware of for junior developers which is promising, non as much as $150 million though.. Also, the projects were not of the same standard as Touquoy CH.
Another quarter of waiting I suspect. Just need to keep on remembering, with 100% debt, NPV per share of 50c... at 3.8c there is big upside, safe country, simple project, biggest risk is getting the dollars via debt. We can take the gamble!
ATV Price at posting:
3.8¢ Sentiment: LT Buy Disclosure: Held
