Sinosteel vs Ansteel I never was in favor the Ansteel deal because it would have led to significand dilution, which none of us shareholders care to see---including Berokoff it now seems))
The rest of the deal seems similar, (40 millionish financed, close to same interest rates. Whats a lot better is that LION will have access to that extra US$20 mill at good terms. Plus the following clause seems pretty unusual but favorable:
Principal holiday and capitalized interest for the earlier of 2 years from first draw, or 3 months after achieving commercial production.
If this all goes through, kudos are owed Wally for pulling off a great deal for all of the Lion owners by not allowing dilution and getting favorable terms.
I might not be totally against the possibility of expansion of shares in the future if needed, It would have to be a reasonably small amount of shares at much higher prices, The new money would be used exclusively for a Pretium style prospecting push. 5-7 + drill rigs. Lets see whats down there tout suite!. If they turn up other Tuvatu's (Jomaki?) , it might be the continuation of the 'becoming a monster' story .
Resourse Zombie: I see you give my posts 1 star, not that it matters a whit. I guess its because youre mad because you think I dissed Thunderstruck. Its not the case. The company is intriguing and worth DD, but I objected to
*.......the roving to other boards which is kind of gauche (no matter where they are geographicly)
.*......And , nuch more so, to someone favorably comparing Thunder's exploration potential with the Tuvatu Resource area/Navilawa complex. That called for a screeching whoa there!................obviously