Loro budget Awaiting results from Loro, while trying to figure out their funding requirements, it sounds like a capital raise will be due soon, but hopefully at a much higher share price.
Not sure why thy needed that loan from Rick Rule’s company, as they are fully funded for the Loro project. Coroprate costs maybe, but also other deals going on too?
Hoschild are paying the Loro property costs and the breakdown of the budget made available to Revelo is shown below. The first phase which they are completing has a $2m budget, does anybody know if this gets paid before the phase starts or when it is finished?
in any case, the sums increase quite a bit from Hoschild in subsequent phases so this project is certainly well funded.
DETAILS OF THE LOI AT LORO
Investment Commitment* (US$ million)
Cash Payments to RVL
(US$ millions)
Phase 1 – 0-18 months
$2.0m
$0.05m
Phase 2 – 19-36 months
$3.0m
$0.10m
37-48 months
$4.0m
$0.15m
48-60 months
$4.0m
$5.00m
Hochschild can exercise Option to earn 100% of Loro
84 months
$5.00m