It depends how borrowings will be factored in and balanced against 2007 Income ( the ist year of Laguna tailings 'mine-thingy').
Laguna is profitable from around $3-3.5 an ounce but assume silver will be at least $7 an ounce. Thats 50% gains gross with the chance of silver at $10-11.
IF we have to pay back bank loan with interest ( over 2007-9 I expect) then that dilutes earnings considerably.
If you go for a rights issue we have initial dilution, but nothing to repay.
Is it not possible that a Rights issue could benefit we R-I's.
PS its time we got it over to the company that this delay is starting to affect sentiment.
I only hold 20K shares just now, I want 100K shares. I wont buy them until I see what is happening with the fund raising.
Other than that, I am very excited by the Laguna project which is expansive in scope into the late 2010's.
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