Ann: PMI Announces Interim Order For Merger of Eq, page-91

re: Ann: PMI Announces Interim Order For Merg... Stu, I've been having a look at PMI, because it's a good company that's cooled off post-end of merger. Re financing, I saw this in the Management D&A ANN:

"Project Financing
The Company is to finalize the $30M standby funding facility and security agreement with Macquarie Bank in Q1 2013 which will provide the Company with additional operating flexibility. If PMI was to pursue development on a standalone basis, it believes that it will be able to raise between US$175 and US$200 million in project debt based on initial proposals received from short listed international financial institutions. Completion of technical due diligence and negotiations on final loan terms, including hedge levels over a project
loan life of approximately 4 years are continuing. On that basis, it is also anticipated that the Company would require approximately an additional $75 to $100 million for working capital to fully fund the Company through construction and commissioning of the Obotan Project and into first gold production which is forecast to occur in H2 2014 and maintaining an aggressive exploration program"
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So, around $230 debt and $75-$100m equity required. I see PMI had no problems at all in raising $110m funds in AUD, so if they do need any further money from the equity markets, they'll get it in flash, imo.