Hey Fbx, I agree that must be it, yet look at CMM, which has to fund at least $133m, which does not include pre-production I believe, yet it seems like it will be able to do so. Very strange, but as you said earlier, some stale holders just wanted out.
I really do think that if NST does not take our EAR, someone else will, the plant is basically a regional hub, and from what I can tell, EAR is not the only one finding lots of gold nearby.
For me, I can only reiterate how happy I am that EAR is being brutal with its costings to ensure that when this gets funded, it gets done successfully at the price announced today. Luckily, EAR raised enough a while back that they can continue to drill and start the pre-purchasing of long lead items etc.
It really does amaze me how quickly the gold sector has fallen out of favour, yet the gold price is still high, relatively speaking. All about sentiment. I do think the sector has some amazing value at the mid to lower end.
Just a thought, but I would be ok with EAR doing a full cap raising for the $40m. Yes, lots of dilution, but... no debt risk, just look at BLK. What a freaking disaster! Anyway, I doubt that would happen, but, they do state all funding options are being looked at. Perhaps it might be a way for a party other than NST to take a solid position. 20% placement would raise just shy of $20m. ha, of course that would annoy NST but they don't have to have everything their way.
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