No not a joke - read "unsecured" and "facility". Much better than a loan secured over company assets even if at a slightly higher interest rate than might otherwise be obtained. If the loan isn't be repaid for any reason, it can't be recovered by putting the company onto administration unless extensive court action has been undertaken. Having a loan FACILITY is a good thing as it makes it less likely that there will have to be another cap raising just to fund the expenses of getting newly discovered resources established for mining. That there is a financier willing to establish an unsecured loan facility means the company will have had to convince them that the risk of default is very unlikely and is an independent vote of confidence in the companys' prospects.
Some big buys at .12 and under - somebody wants these shares in large numbers, even though at a substantial discount to the issue price. Having watched a few of these kinds of dumps (and been in a couple) my gut feeling is that there will be a pump up sooner or later. (opinion).
Are miners going to be laid off at Coyote? It's been slated for closure by June - but is the company going to retain or reemploy them for other mining? No announcement on this.
TAM Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
