Since this is one of the big concerns (certainly for me, but probably as good an excuse as any for the lack of interest the general market has for VTR) I was pleasantly surprised to come across this:


The gist of it is that Sulliden Gold Corp - another junior miner well advanced in the development process, just arranged  $125 million in debt financing for its project in Peru. 


While still a ways off the ~$300 million (assumed on my part) required to get the phased approach going at Kiaka, at least it does indicate that companies are now able to raise substantial amounts of DEBT (as opposed to using brutally dilutative share issues) to finance projects.  I would hope that with VTR mgmt's close relationship to Standard Chartered they'll be able to pull off something similar to finance Kiaka without issuing hundreds of millions of shares.