TSXV:CAV.H - Post by User
Post by
dgh7on May 24, 2012 5:58pm
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Post# 19943833
Shortfall: $200 million of $400 million
Shortfall: $200 million of $400 million I prefer to state the MMB financing shortfall as US $400 millions. The next step would be to divide the responsibility for the MMB shortfall between the two owners of MMB: the Korean Consortium (30%) and Baja Mining Corp. (70%).
I am using the US $400 millions out of an abudance of caution that the existing senior debt holders will insists that the original $100 millions overrun cost facility must be restored to zero $ drawdown.
In the absence of authoritative financing news, I do not assume that the existing five commercial banks (in for US $20 millions each), will not double their exposure.
Sorry for the double negative in the above sentence. It is a sign of the times.
Doug.