Residual Biox FinancingBased on what has already been done in preparation costs and using recent asset disposal funds ( Turnakura and Mengaoher = $44 million cad ) I figure about $20 million cad would possibly be needed if Murchison is not sold.
As it will take about $30 million or so to take Murchison to operational production, I assume that it will be sold.
Assuming that is not the case, that $20 million cad to fund the residual costs..$20 m cad..of the Biox conversion could be raised by offering shareholders a rights issue.
Lets say rights are offered for each share held and 2 rights are required to purchase one common share at $0.14 cad.
This would raise about $21 cad .million and add about 165 m to our shares o/s, bringing total shares to about 500 million.
This option seems unlikely as if push came to shove, we have sufficient cash and cash equivalents on hand ..about $65 million..along with cash inflows from production, to fully fund the conversion , perhaps with the addition of a $5 million US debenture debt funding..