It's Very unlikely we'll anything close to $70m. You can use that figure if you want to be super conservative as an investor, but it's not realistic. Somewhere between $15-25m of ordinary equity together with some quasi equity seems most likely. And if the price of gold runs up strongly, it's possible we'll require even less.
The wholly grail of no equity would probably require a pog north of $2,000 combined with some innovative thinking.
