Some of you are forgetting that once the market cap goes to 100m after the fundraiser, the company will be on a price to earnings ratio of 2.7 (100m devided by 36m) ..this is extremely cheap, considering the Ftse average is around 15.
Dyor
40m usd = 32m pounds a year.
After plAcing market cap will be around 100m at a share price of around 2p.
That would put the price to earning ratio at 3.15
The banks don't want to own a mine, all they want is a guarantee that they will get their money back and mng will do just that by providing a corporate guarantee .