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Title : Bear Creek Mining (BCM.v): When the bullshit has to stop
link : Bear Creek Mining (BCM.v): When the bullshit has to stop

Bear Creek Mining (BCM.v): When the bullshit has to stop

It's around this time that mining companies realize you can't have your cake and eat it:

Vancouver, British Columbia--(Newsfile Corp. - March 3, 2020) - Bear Creek Mining Corporation (TSXV: BCM) (BVL: BCM) ("Bear Creek" or the "Company") announces that it has engaged BNP Paribas and Société Générale as Joint Lead Arrangers (together, the "JLAs") to arrange a US$ 400 million senior secured credit facility (the "Facility"). The Facility, if concluded, will be used to develop the Company's wholly owned and fully permitted, world-class Corani silver-lead-zinc project located in the Puno region of Peru. The JLAs will use commercially reasonable best efforts to arrange the Facility with a syndicate of banks and financial institutions.

In other words, while the world knows that silver is $17/oz, zinc $0.90/lb and the price financiers charge mining companies for capex cash rarely drops below 15% these days, Bear Creek Mining expects to raise U$400m on a project that uses U$18/oz silver and U$1.10/lb zinc for its economics (Ag and Zn are the big revenue generators) and also assumes the world will lend them the money at a 5% cost of capital.

Good luck with that.

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