GREY:PTQMF - Post by User
Comment by
wwadehammeron Mar 05, 2012 8:16pm
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Post# 19630032
RE: RE: Cost of loans too high
RE: RE: Cost of loans too high You know what's really scary Ten, PTQ needs at least $160 million to develop LP based on its own estimate. That number is low compared to what Detect Vic Mack estimated at $250 to $350 million to develop a sulfure mine with all its environmental problems. This go around is just for $18 million at 36 percent interest. Just imagine what it will be when they try to borrow 10 to 20 times that amount. Bring back the days of 17 percent interest bonds - the bonds were less than half the cost of what this silver fiasco is. We need to remove management at the next annual meeting as they can't get us decent rates on borrowing costs. And please, don't try to explain it away by saying the price of silver could drop significantly, the price could also rise significantly in the next two years. This is a terrible deal and should never have been proposed. At least they had the decency to not put in "We are pleased to announce....". Again with a bad joke.
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