Generation Mining Ltd T.GENM

News

[skiesthelimit]

The edc is interested in a 200 million dollar loan. Awesome!!! News.

[skiesthelimit]

Mr.4 w's read the news carefully !!!!

[skiesthelimit]

I bet those interest rates will be pretty low....

[Ebankbank]

That's awesome confidence in the project, hopefully the panel is moving quickly on the approvals. 

[dsdsemma]

Terrific update!  I wonder what the EDC thing does for the equity piece - eliminate/reduce?

[skiesthelimit]

Soak up some of the inflation cost overruns. But they stated "Endeavour estimates that the project can carry approximately US$400 million in senior debt based on the Company’s Feasibility Study dated March 3, 2021" I'm assuming that doesn't include the edc debt ? Any opinions?

[Rainyday]

If the EDC debt is subordinated in rank to the senior debt then it would be extra to the $400 million of senior debt. 

[JAUBE123]

Sounds to me like we should be fine without at a private placement. Maybe that's why these guys have been accumulating as much as they can on the open market . That would be a question good to bring up at the next renmark . ("Based off of all the financing interest, does your team still see a need for a private placement?"). Unless maybe we might have to if we need more cash sooner

[Rainyday]

Yes - that would be an excellent question to ask. Management is, of course, totally correct in wanting to avoid or minimize dilution for shareholders. And if the company gets $400 million of senior debt and a $200 million EDC loan on top of the $240 million Wheaton financing then the need for a private placement is minimal. That said, I think we investors may be somewhat overly concerned about

[AGTCTTWWWW]

This post has been removed in accordance with Community Policy

[Rainyday]

Wrong - the proceeds received from the loan raise the assets of the company (cash, etc.) - you have to consider both sides of the balance sheet.  

[AGTCTTWWWW]

This post has been removed in accordance with Community Policy

[JAUBE123]

What is wrong with you 

[JAUBE123]

There are no surprises here. You're acting like we're failing our objectives yet we keep hitting all the milestones that are a part of the process. 

[Rainyday]

If you take out a mortgage at the bank to buy a house you have both an asset and a liability (a house and a mortgage) - there is no net effect on your net worth. Same for a company - just the act of borrowing money has no effect on a company's net worth. Both the assets and the liabilities increase. As I said, you have to think about both sides of the balance sheet.

[AGTCTTWWWW]

This post has been removed in accordance with Community Policy