Sorry, my point was that we can not assume strip ratios to continue to decrease since they are heavily affected by orw selection, and willost likely I crease with the life of mine.
And finance cost along with aisc is the number you really want to focus on, which is 1000-1050 over both mines.
With 1000000 in cash and no deal announced, and a bog drop in gold (in my opinion under way) things don't look so rosey.
My prediction, deal gets delayed, gold drops below 1100 fast heading for 900's, (uh oh, that would be the end of banros profits) and then we have that hairy issue no one wants to mention on this board of banros NYSE listing. If banros assets (and book value) drop by 30%, will they still qualify for their NYSE listing exception?
When I throw all this together, essentially if say....china starts dumping gold for example, and the bottom drops out, how close would the banks let banro drift toward insolvency before they closed the deal. If Gramercy say had a feeling gold was going to drop, might it make sense to delay closing (while gold plunged) to negotiate a better deal with banro, knowing the company had to close the deal?
Just saying. Sometimes cash is king.
