Camrova Resources Inc V.CAV.H

RE: Guarantee to completion

[tigersea]

here is my calculation

$435M less 30% of cap ex of 297.3M
balance is 137.7M less 30% of costs up include BFS of 29.6M (I don't have the exact figure, I add up minernal property(18.5M), pp&t(1.5M), deficit(further assume all G&A are counted)(78.5m), total 98.5M)

so about 108.1M debt if there is 0% premium on costs.

since we lost 30% of project, this financing effectively equals to 42.8% dilution on existing shareholders' right on the project. if you count on FD basis, this is an extra 79.8M shares.

137.7M(if you assume there is no debt potion from korea) for 79.8M shares
this equals to $1.72/shares
and less if there is a debt potion of the package
looks like korea is not that stupid to over paid $3/share as some posters suggested.