Some important points from the presentation - Name of the lenders: JP Morgan, Credit Suisse, Societe Generale, CAT financial, Commonwealth Bank and ING bank.
- They are in discussion and have receieved term sheets from Royal Gold, Franco Nevada and Sandstorm Gold who are in a competitive environment.
- There are also discussions with other banks on alternative debt.
- John McConnel was in Bejing and Japan and was surprised by the big interest in their project or gold projects generely. The got three EA:s (what is that) from firms in Bejing.
- Permits will be in place Q1.
- Will began building in April.
- Victoria Gold does not have to hurry with financing, as I understand it they are waiting for best possible royaty agreement, that means: large amount of money up fron for least possible precentage of productions as possible and they want to limit it to eagle because of the enormous explorations potential in the surrounding areas.
The only reason they are waiting with the financing is that they want the best possible deal, there are not many projects like eagle avalible for the streamers so they will probably bid over each other. I think it was a genious move by Victoria to build cash, lets see what happens. I think this is a potential shocker, lots of cash out there, small amount of low risk gold projects. Be ready for big moves in the share price imo.