HDR hardman resources limited

chinguetti development financing

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    Thinking about HDR's long-term future I was wondering if anyone had thought through how HDR will finance Ching development? They are talking to the banks for debt financing but how will they service the debt? I doubt that the cashflow from Woodada and eventually Jingemia will be sufficient. They will probably raise further equity as they have indicated but it would not be appropriate to use that to finance debt. Perhaps they will farm-out or sell some permit equity for cash and do it that way?

    Any ideas?

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