RE:RE:RE:RE:closedCdnScorpion wrote: Well, at this point, with Start syaing they have about US$200 million sitting in cash and US$230 million to build, why would we even consider a JV? Start building now and as long as prices remain 3.50+ we'll make the final amount pretty quickly. This is what I have been hoping for, financed with debt and earnings, no JV, no further dilution.
One of the stipulations of a bond issue is retaining a certain amount of liquidity in cash. They have to maintain some of that cash horde to satisfy those demands. I haven't seen the actually terms of the bond issue, but its typical.
So, a JV would be helpful to get online sooner. However, they can build based upon cash flow, it would just take more time, and copper is up now.
Fluff's numbers are too optimitic about the JV terms though. The JV's always get better deals than that.