I must have missed this- is this new or existing debt? If it is new debt in my mind it is better than raising money by a share offering at such low prices. As we likley all agree the NPV/IRR/Payback #'s are all so good that borrowing at 9.5% is a bargain if compared to doing a share offering at $9.00!

I watched the Goldcorp guy on video feed the other day and agreed with all that he said  and most importantly that resource stocks certainly appear to be a very big bargain- but again they arent a GIC. Risk and return are related and thus the question is how do you filter the information?

Many investors get terribly upset if they lose anything - and thus in my opinion they shouldnt be in the resource sector as "s--" happens! But if you view this as a bit of a VC play and have the guts of your convictions you can make a lot of $$.

The most important thing is do go in with your eyes open and have courage .