WillP, Tahera is getting a better rate than that. Is interest at LIBOR + 5% a set price with MPV, or a 'standard'?
Just curious, as Tahera's getting LIBOR + 2 or 3% if I recall on any Tiffany's money. (the mine is mainly built with cash as your know and have written about.
The Arrangement between De Beers and its Gahcho Kue partners calls for interest at LIBOR plus 5 per cent on all exploration expenses beyond Kennady Lake since March 8. 2000. It also calls for interest at LIBOR plus 4 per cent for the capital costs of any mine. Both interest rates are compounded annually.
Aber's Diavik loan was LIBOR plus 3 per cent, renegotiated to LIBOR plus 1.5 to 2.625 per cent. Tahera's Tiffany arrangement is LIBOR plus 3 per cent.
Speaking of Bull Will, I like the Bull the CMKX pumpers are posting on your latest KRT Streetwire.
I guess from all the CMKX pumping right now, they are preparing for a major internal dump if the SEC in the US actually gives them an extension to file some paper BS to cover their NR BS!
All my Fort a la Corne articles catch some comments from the CMKM faithful, although not to the extent that Lee Webb's CMKM articles do. Mind you, I think my June 2004 CMKM article still holds the record for irate comments. How dare I mention that Carolyn was actually the old Smeaton pipe, without touting the hiring of an attorney and waxing poetic over the 1.4 million acres of moosepasture.
All that should leave investors with warm and fuzzy feelings. Investing ultimately is all about out-guessing your fellow speculators, is it not? Buy low and sell high, and all that? The content of many Internet message board posts suggests that the knowledge standard may not be all that high.
As for Tahera and Mountain Province, I guess the real investment decision is timing, buying on dips and selling near the peaks. Alternately, you can buy and hold, I suppose. What are your approaches with these two advanced projects?
Regards,
WillP |
