I for one am not claiming to know financing more than anyone on here. However, that 2.2 years pay back struck me as the financing being a loan, why else would you pay it back.
I also understand that in any credit market, banks always want you to have some skin in the deal. That is why they never do 100% financing as this leaves them with unresonable risks in case of default by the borrower. So a portion of these monies will have to come from other sources. These other sources could be governements as they wish to advance development in the north and will see a double return on investment: interest from the loan and increase in their tax base. It could also be natives that advance some money as a loan again as they want to see permanent roads built up there to increase their lifestyle and generate more jobs for their communities...I am sure others have something to gain from this development as well and will want to see this financing go thru.
In any case, RN has stated back in mid July that E1 was economical by itself, that it would be mined and that they were going forward with this. At this point with the PEA now being out and confirming what RN was stating, there is no reason to believe RN will not be developing E1 as he said he would months ago. Assuming the proxy vote went our way, Noront will be developing E1 without dilution in my opinion.
Respectfully,
Glorieux
