RE: RE: Up Day!!The recent private placement is "funding costs directly related to getting into production" was the message I got straight from the company, and they scoffed at the suggestion that this financing was "just paying bills." Their goal, as they told me directly, is to get into production rapidly, and with as little additional dilution as possible, a goal they described as "very realistic" in this gold market. When I asked about Sprott type gold loans they said it is a fair bet that companies like Oroco are entertaining multiple offers of this type. I'm confident that with the terrifically positive economics of this deposit Oroco is one of the companies getting this type of financing offer and just a small portion of their production would need to be committed to pay back such a funding.
With the recent rise in price that portion is getting smaller every day. At $1470/oz gold the total capex of this project represents less than 15,000 oz of gold. I think Oroco can get a production financing on better terms than TMM and SVL, who both financed at much lower gold prices.