RE: Gold Loan30 Sep 2025 15:31
GLR - that's the way I read it. Original loan was for 2,000 oz at $1,500 per oz. They've repaid 675 Oz but still owe 2,512 oz - obviously that's more than the original loan. What we don't know is the exact terms of the original agreement - is the loan still calculated at $1,500 per oz or now at market rate? It makes a huge difference. Without wishing to be overly negative, the other point is that in the period ended August they only produced a total of 2,917 oz. They need to up production pretty rapidly if they are to repay this loan in December and still have product to sell to fund cashflow. Without that loan, this would be a stand out buy at this price.