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Gold/Mining/Energy : Corner Bay Silver (BAY.T)
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To: TheBusDriver who wrote (3648)3/27/2002 2:19:34 PM
From: Claude Cormier  Read Replies (3) of 4409
 
Wayne,

As you know, BAY wants to have maximum leverage to silver. But their mine has 15% gold and forecasted production is expected to be 25,000-27,000 ounces of gold per year initially.

One possibility that BAY has to limit shares dilution when it comes to finance Alamo Dorado production would be to sell forward one or two years of gold production or get some sort of gold loan.

They would miss the gold leverage but would probably be able to issue less shares to finance the CAPEX therefore increasing the silver leverage.
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