OTCQX:DMMIF - Post by User
Comment by
edxon Jan 29, 2016 7:16pm
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Post# 24507646
RE:RE:RE:VRIC Update
RE:RE:RE:VRIC Updateedx wrote:
Here's the other "coincidence". The vertex financing extensions was announced on November 2, 2015. Remember that they updated their mine plan in Q4, so I'd bet they updated the mine plan in October based on the experience and new information they had at depth, went to Vertex and extended the terms. Loan repayments start on July 29, 2016. So here's my bet - their mine plan has them exploiting Abundancia by July 29, 2016.
I need to amend that. I'd bet their mine plan has them explotiing Abundancia by the end of Q2, so that with the revenues from mining Abundancia, they'll be able to make the first $500k payment for July 29, 2016. Seems a bit weird to start debt repayments on July 29, rather than July 1 or August 1right? Well it doesn't if they're expecting to start exploitation by the end of Q2, so that in July they can earn that $500,000. Let's just hope that if all of these inferences are correct, that they built in some buffers and really expect to start exploiting Abundancia by the middle of Q2, not the end of Q2 (that'd be cutting it tight).