Metanor Resources MEAOD

RE: Correction To Cash Flow Estimate!

[JRaffles]

Thanks for the correction Lastpick - the $96m is the 3 year project cash flow, as you noted - the NPV / 3 years is the closest to net cash generation per year.  

I would add that my financing preference would be for partially convertible loan capital.  In this way, a low coupon rate could be negotiated, as loan capital has a priority claim over assets and if, say 33% loan were to be convertible to ordinary shares, then the lender could opt for a proportion of project gains.  The IRR is very high, since the funds required are relatively small compared with the gold producing capacity of the Bachelor site value, when fully operational (existing infrastructure, say $150m + $35m = $185m total for completed infrastructure cost).