Au Hitting $1,626 as of nowAu at $1,626, Ag at $40.70, and Cu at $4.45 will overshadow this minor financing. Orvana's near term income stream is strengthing and will continue to strenghten for years to come. The fundementals driving higher metal prices are here to stay with us for a number of years.
This PP is a good move. It gets rid of the 15 million bridge loan liability on the books and replaces it with share liability on the books. It ends the loan obligations. The $5 million bond is only a bond and not a debt. Any additional operating operating monies can reasonably be expected to be 5 - 10 million since the 15 million bridge loan was considered adequate before and since time has past and expenses have been covered by the bridge loan.
In total we are likely looking at a placement for 25 - 30 million.
In comparison Poster Fat666 points out Baja's dilution last year. While Baja share price backed off it has since rebounded and Baja will not be producing until early 2013.