Loan to Luna 5.5% IRRZero interest loan to Luna for 16 months, then 12% thereafter until June 2017. This assumes Luna uses all of the funds towards their drilling program. I calculate an IRR of 5.53% based on no interest from 0-16 months, $100,000 monthly payable interest from months 17-37, and a bullet of $10M and the last $100,000 interest payment in month 38 (June 2017).
They were contracted to make this loan since September 2012, so not much say on this other than I hope they can start making accretive investments that have higher IRR than 5.5%.
https://web.tmxmoney.com/article.php?newsid=67262275&qm_symbol=SSL