EZbeliever,
regarding your comment:
"I have an important question that beggs a thorough answer.
As you recall, I posted a comment on Kitco regarding the current
lack of working capital of RANGY. The reason I usually insist on
a strong cash position with my resourse companies is so they
can hang on in tough times. Your response was " who cares about
cash on hand with the level of production about to come online".
Something tells me this could be more of an issue than you think, or
are saying.
Please provide a thorough analysis of the current bond obligation,
including the possible dilutive effects of the options or warrants
contained therein.
A very valid concern, but I'm just NOT seeing this as a major issue.
I'll attempt to address it when I get the time. I've built in a Q and A section into my website. I certainly don't have the time to spend answering every question that arises, and am hoping that someone within RANGY steps up to help, but I'll work on it as time permits. In short, my understanding is that the bonds aren't due until 2001. RANGY has more than enough cash/assets to see through the development of Syama, and Syama heap leach. This will more than generate enough capital for other projects....unless gold drops to $200 and stays there.
PB
PS. The 15 or so Million that Rangy has coming from SUF will more than cover the entire cost of Syama heapleach. AT least 200,000 ounces over 4 years (50k a year) at $130 will generate a lot of $$$ by itself. Thanks for the question and keep 'em coming! And remember, I'm not Mr. Know-it-all. Maybe there is something I'm missing, but I can certainly say if there is I haven't found it. |
