"By fully funded you mean massive debt $200m at 7.75%, long time before anyone sees divvies, probably 2025"
No wrong.
The latest feasibilty study for Sanbrado sees a 16-month post-tax CapEx payback on $185 million assuming a US$1,300 gold price. So based on current project construction projections (ie first commercial gold production in Q3 2020) and the feasibilty study metrics, the CapEx (and hence most of the debt) should be paid around Q1 2022.
Posting complete garbage not based on facts is OK as long as you don't start believing your own garbage as that can get you burnt.
WAF's project has attracted many western institutional investors onto the register as is evidenced by the many "becoming substantial holder" notices we have seen announced during 2018 and 2019.
So far VEC have been able to raise a US$4.75 million bridging loan on highly unfavourable terms to buy into the project and have raised $2.6 million via placements which don't even cover the bridging loan amount. I wonder how much of this money is earmarked for the hungry state officials in the DRC who run one of the most corrupted shows on the African continent? Anglo pulled out and left equipmemt on the ground for a reason. They were probably prevented by officials from retrieving the equipment. Now those same officials have a new lamb to fleece and are already doing very well by the looks of things.
You just can't compare the two opportuties side by side. One project is fully funded and in construction with a host of competing western institutional investors onboard, the other project is a cast-off that has ended up in the hands of schemers that have put their shareholders in hock just to buy it. If it was such a hot property equity investors would have stumped up all the cash to buy it. Why didn't they? is the question you should be asking yourself.
As I said WAF is investible while VEC is currently a penny-dreadful speculation which is running on empty.
But please keep the garbage flowing as it provides WAF holders with entertainment while we watch our mine being built, that's if the company doesn't get taken over first. Esh
(20min delay)
