TSXV:CAV.H - Post by User
Post by
mining.insighton Jul 03, 2012 5:31am
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Post# 20076194
Required Funding is on the Horizon
Required Funding is on the Horizon interim ceo Tom Ogryzlo told Metal Bulletin on July 3.
Baja itself must supply 70% of the required funding, and the South Korean consortium that holds 30% of the company must provide the rest. “[The South Koreans] will come up with their part of it. On our side of the fence, it could be $280 million,” Ogryzlo said. BMO Capital Markets, engaged to advise the company on its refinancing, have divided the possible solutions for the funding shortfall into three categories, he added: finding a strategic partner, bringing in hedge funds, or finding large consumers to buy up production. “[In terms of strategic partners] that would be producers at a medium level. We’re talking to quite a few of them,” Ogryzlo said. “Funds would come in through...
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