RE: RE: Will break $1 markI agree with your comments. The moves they have made certainly left the short term vulnerable to this and that is why I was so high (as well as Rock) on a Zaruma Resources purchase earlier in the year. The company was certainly affordable would have perfectly filled as a stopgap measure for the 2009 production shortfall and the purchase would have generated enough cash flow where the purchase price would have been pretty close to recovered by the time the UMZ project was in full production and provided Orvana's stock price surged past $1.25 I would have been agreeable to converting Glencore's debt on Zaruma's project into equity which would have been beneficial to Glencore maintaining control of Orvana as funds are need for the Copperwood project down the road.
As for the financing of UMZ I highly doubt it will be 100% and thus really a nonevent to report.