Thanks Mike97, that is a great comment from a respected gold player.

Here is a passage I liked from this long but great article: http://seekingalpha.com/article/317068-junior-gold-carnage (Thanks Rob aka Notster for the link)

With such a hefty amount of capex required to build a mine, even the biggest and best miners that have strong operating cash flow need a shot of capital in order to develop their pipelines. When at all possible gold miners prefer debt over equity financings to limit dilution. But debt is not always easy to come by, especially considering the current lending environment birthed from the recent financial crisis. Banks just aren’t as willing to take on the risk or offer fair terms considering the volatile nature of commodities prices. These miners must therefore rely on selling their shares in order to raise capital.

After reading this, consider that it took GMP exactly 8 days from their signing to find 100M of debt financing for the company. This speaks volume about the very strong underlying fundamentals of the company.

Glorieux