re: Ann: Drilling Commencement at Lindeman...
Regarding the funding for Barnes Hill, this is my understanding: Caterpillar are financing 60% of project finance ($36 million) to be repaid in 5 years. The remaining 40% of project construction and development costs ($24 million) are to be provided by equity funding from Metals Finance. MFC currently has $2.9 million cash at hand (see ann today) and their BSM investment not looking to good. Will be interesting to see how this works out.
PRW Price at posting:
2.7¢ Sentiment: None Disclosure: Held
