There is no possible way anybody will lend them money to build 2 more mines, when they are narrowly breaking even now and already have a big balloon payment due in 2017. The only scenario where they will borrow the money to build two more mines is when Gold is much higher than where it is today. What they must do now is prove to investors, and bondholders that they can profitably operate these two new Gold mines. So far the goal is 75% achieved, just waiting on Namoya optimization. If they can complete the process by 1st or 2nd Quarter 2015, and ramp it up to full expected production then we will be fine. Now the only variable anybody should be considering and worrying about is the price of Gold. Not any dilution, not any RS, not any potential JV or buyouts, just the price of Gold plain and simple. The forward price of Gold will either go lower and then make those options a real possibility. Or the price of Gold will go higher and we will forget about those possibilities as Banro becomes a Major Gold producer. Right now where Gold is we are in Limbo with a negative skew, but that is it, Banro is in no dire position as some would paint the picture to be. Right now they are doing everything they should be to the book, and they are doing a damn good job, cut those guys some slack, and give them a little credit, they deserve it.
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