RE:RE:THE ONLY 3 VARIABLES THAT MATTER....
Krama,
1. My post clearly implies that Glencore will lend any amount that is neccesary to complete RP2.
Which is why the time variable is not mentioned. Logically If TV needs more financing because RP2 development takes longer than expected Glencore will provide more. The conditions offered by Glencore for extra funding will not be friendly to TV..but it will be available and offered.
Do you think Glencore will support RP2 now and then 6-8 quarters away decide to abandon the project after having already invested?
You may say ....at this point perhaps If TV gets into large finacial trouble why would Glencore not let TV go bankrupt and then snap it up for pennies on the dollar.
For the same reason they didn't do that 2 years ago when TV was an inch from bankruptsy.
They don't want to own or run the mines ..........They just want to control the concentrate.
2. As for your comment (How much value remains after financing? Honestly, not really that important)...........
The effect and or conditions of the amount of money TV will borrow will most certainly affect TV's value after RP2 .........
The same way TV's value is affected now from the wonderful Caribou 1.25 hedge arrangement TV has with Glencore currently.
TV may be forced to sign offtake agreements with Glencore for a certain amount of RP2's future production...... to compensate for Glencore financial support.
Perhaps you should read my post again and it will become clearer.
Also I have posted at least 3 times in my comments in the last 2 years .....that I have a favorite saying that I live by...(EXPECT EVERYTHING TO COST TWICE AS MUCH AND TAKE TWICE AS LONG AND YOU WILL NEVER BE DISAPPOINTED)
so time is not a variable of which I am ignorant.