RE:RE:RE:RE:RE:ArticleYou are correct, as far as I undertand the terms anyways.
From Q2 MD&A:
MMB is relying on a KORES bridge loan of $20 million to continue to fund the Boleo construction while it is seeking third party debt financing of up to $200 million to fund the completion of the Boleo construction and additional working capital requirements, of which MMB has secured $50 million in the form of a corporate loan. If MMB requires and is unable to secure the remaining third party debt financing, it may be required to issue a cash call to its shareholders resulting in further dilution of the Company’s ownership in MMB.
If you look at this link from redscorpion it's clear that the borrower is MMB, they have secured their own financing, they have not issued a cash call.
https://www.reuters.com/article/2014/10/23/idUSL3N0SI3UD20141023
That's 100M swiis francs, plus 50M USD (so about 145M USD) that they've secured so far without making a cash call, and without borrowing money from KORES. Therefore no dilution occurs with this 145M expense thusfar.
So, I would eally like to know what everyone's problem is? Why is everyone selling? This is exactly what they said they were hoping to do, and so far it's gone off without a hitch. Man, when they finally do announce mine production has started some people are gonna really sorry they sold i think. I've said before, and I'll say it again- if we have even 2% ownership, the current market cap is a joke, and this company is undervalued. I think we will end up with 7 or 8%. 10% would be amazing.