Times are tuff?An off topic.
Looks like inflation is having cause for some companies sell of assests to keep projects moving.
Hopefully Marathon can keep expenditures under control? On the other hand perhps they could sell off the Bonaza project in the USA or Golden Chest Royalties down the Rd if any of that makes sence? For now cash appears to be under control no need?
Yesterday evening, Equinox Gold announced that it has entered into a bought deal private placement to sell 11.6mm units of i-80 Gold Corp. (IAU-T) at C$2.76/unit (7% discount to yesterday's close) for gross proceeds of C$32.0mm. Each unit consists of one common share and one-half of one common share purchase warrant of i-80 Gold, with each whole warrant exercisable at C$3.45/ share for 12 months following closing of the deal. In the event that all warrants are exercised, the total gross proceeds to Equinox would be C$52.0mm.. Equinox reported that it is not currently planning to make any additional changes to its interest in i-80 Gold.
As we had previously published, given the company's current balance sheet and intensive capital-spending plans over the next 12 months, we believe the company would have to either issue equity, sell a non-core asset, and/or sell some of its investments in 2023.
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I still see SKE and IAU going for more cash this year to fund projects. Marathon finacing in hind site may have been a good move with interest rates rising and while monies were available to move ahead with the project. Painful now but long term may be brighter?????