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Altamira Gold Corp V.ALTA

Alternate Symbol(s):  EQTRF

Metals & Mining Gold
Altamira Gold Corp. is a Canada-based company focused on the exploration and development of gold projects in central Brazil. The Company holds six projects comprising approximately 190,000 hectares (ha), within the Juruena gold belt. Its Cajueiro Project comprises a large land package (28,557 ha) and is located in the Alta Floresta Gold Belt, a Proterozoic calc-alkaline volcanic arc, which includes medium to high-grade metamorphic crustal segments. Its Santa Helena project is located approximately 60 kilometers (km) southwest of Anglo American’s porphyry copper discovery at Jaca. Its Apiacas project comprises a package of properties covering seven main target areas which constitute the Apiacas district. The Apiacas project is located about 50 km west of Cajueiro project within the Alta Floresta Belt, an 82,000 ha land package. Its other projects include Colider, Nova Canaa and Porta Aberta. The Porta Aberta project is located approximately 13 km south-southwest of the Cajueiro project.


TSXV:ALTA - Post by User

Altamira Gold Corp
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Comment by cloreenbaconskinon Jun 07, 2016 1:25pm
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Post# 24942354

RE:RE:If you think this is good news there is a chance you

RE:RE:If you think this is good news there is a chance you
cloreenbaconskin wrote:
radar17 wrote:
didn't read far enough down. Never mind the cost and dilution that comes with the $1M portion but I have got to be reading this part wrong or my calculator's on the fritz....

"The Gold Prepay is a secured loan to be repaid in gold at a pre-agreed volume and price. For every US$1 million drawn down by Equitas, repayment will require 2,100oz Au if within 1 year of drawdown, or 2,300oz Au if repayment takes longer than 1 year but within 3 years. If the full US$5 million is drawn, repayments would range between 10,500 ounces of gold and 11,500 ounces of gold."

Do the math... for the $5 million dollar "loan" they will be making a payment of $13,000,000 to $14,000,000,  at today's gold prices?!?!  So that's $8 to $9 million dollars just in "interest" on a $5 million loan.  Looks like somebody will be making money, it just won't be EQT or its investors.  Wow, is all I can say.



Or, the ounces of gold in the ground are sizeable so EQT mgt agreed to the gold payout for every million borrowed. 


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