Well, I for one cannot believe they were able to garner such an...

Well, I for one cannot believe they were able to garner such an amazing debt facility. 

Compared to any other I have read about in the past 5 years, I have not seen a company be able to borrow just shy of 150% of their market cap, to build a mine in Africa. Simple as that.

Most are focusing on the share placement, which I also think is pretty impressive, with basically $50m being raise at a discount of only 15%. 

The terms for the loan are also impressive. 7.75% is Excellent.

No repayments until over 18 months after the company hits commercial production (many stocks I have watched, and sadly held, never ensure that repayments are pushed out enough, as there are almost always issues/challenges in building and then starting up a mine). Having that large amount of breathing room is impressive.

The company does not require any hedging, which is also extremely surprising, which allows them the flexibility to undertake risk management their way. Upside is fully open, yet the low AISC protects them to the downside as well.

10-15% more reserves from the open pit in the next few months, plus more gold from U/G means the mine plan is going to be even more finely tuned. This company is going to be mining gold in less than two years, yet it will also have spent another $15m on exploration which will have further enhanced all they have.

Some are crying out for a T/O. Fair enough if you want a short term profit, but for me, the terms and amount borrowed, plus the company clearly explaining every single detail of what is to come, including being fully upfront about the pre-production costs is very impressive.

As for the capital raising. Sure, the price may drop a little, or... can you find another company on the ASX that is fully funding to build a mine that will produce gold for 10+ years at an AISC of less $880 AUD???

No more capital raisings after this... no way for brokers to get their teeth into the company, or any other entity for that matter, except on the market.....