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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn
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To: lehiguy who wrote (960)1/26/2006 8:28:24 PM
From: Gofer  Read Replies (1) of 3270
 
Hi lehiguy,

I also own some YZC. I don't have any problem with them forward selling their Ag. When Lundin did it in '04, they raised US$50 million plus some SVM shares and warrants by pledging at least 40M ounces Message 22034757

YZC has around 75M ounces so they don't necessarily need to sell it all forward depending on how much money they need.

If, for the sake of argument, YZC needs C$50 million with the bank loaning them the rest, they would have to sell 111M shares at 0.45 to raise the money. I'd rather they sell the silver.

It should be noted that LUN was already producing when they sold the Ag. Also, LUN's silver is only about 12% of the ore value, for YZC it's about 25%.

FWIW, LUN shares have appreciated by 140% since they sold the silver.
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