IKN

with good capon lined

Lend a microcap fcf negative junior miner $600k at 20% per annum interest: What could possibly go wrong?

This is fun. Inca One Resources (IO.v) has this plan to expand its toll milling ops and they want you to fund them. What’s more, they’re willing to pay you 20% per annum interest on 600 grand over two years if you’d be so kind.

Three observations:

1) It’s the kind of interest rate that makes you wonder, tied to fixed assets or not.
2) On the subject of wondering, I wonder what current IO.v equity holders will think of the plan when they find out? After all, IO.v seem to want to keep this one quiet, and also even in the best of cases that’s $240k which isn’t going to make its way to the bottom line.
3) IO.v works in Peru. Toll milling operations are common in Peru. Peru is a mining country. So why isn’t IO.v looking to raise seeding cash inside the country at a more reasonable rate? Or even get the first batch of toll feed from the local sellers on tick and pay them back out of cash flow? Could it be because…nah, fergeddit.

Maybe these dudes should consider Kickstarter…

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.