So taking my interpretation of the Resources Appalaches and...

So taking my interpretation of the Resources Appalaches and Renvest Mercantile Bancorp deal and adjusting for use in Touquoy I get.....

I will assume both projects are of the same risk, Resources Appalaches is far more advanced and I assume underground mining is more risky vs the open pit Touquoy, our pay back time will likely be longer..... So in best case I assume same risk.

So for atv, borrow $140 mill @ 12%, add on another 3% = 4.2 mill. Then pay 1% of total output per annum = 1.5mill, issue shares to the value of 5% of loan (6c share price) = 110million shares + 110million warrants for 3 years @ strike of 15c.

Seems like an awesome deal!!!!

The mine should net $80mill/annum.
Build for 2 years, So net debt goes to $180mill.

So 1 year after first pour, $22million interest due and $60mill off balance,

2nd year after first pour, $14mill interest, $66mill off balance, balance = $54mill

And paid back before third year.

I would also assume atv gets more than 60% now as it should recoup issued shares and warrants.....