I was just looking at this. Wow, what a low blow, not to mention the timing (close to 2020 lows). I was never particularly impressed that they had to resort to borrowing $185 mil from Sprott, who in my OPINION is a lender of last resort (loan shark). I bet that Sprott will be taking their pound of flesh in that financing while retail gets hosed.

Look carefully at the terms, the last $85 mil of that loan were dependant on "completion of equity funding". So basically, to meet their timeline (works beginning late 2022), they had to do the equity funding NOW. Also not a good look when one of the directors was dumping stock couple months ago. I really hope that construction goes to plan and they achieve commercial production. I don't own, but if all goes well, holders will get they money back. A 200koz producer in Canada will be worth multiples of the (diluted) MC if making money.

Hopefully GENM management can avoid the pitfals MOZ faced. The stream was/is a HUGE deal, as it really takes the pressure off management in their financing negotiations, and has provided options. Stealing that mill from Hycroft was also a big deal IMO. MOZ never managed a stream, probably hard when Franco had a 2% NSR already.

I know we've all been impatiently waiting for financing news, me especially, but better to wait for the right deal than rush into a bad one.