conditions precedent

Well having reviewed the ann, as someone who has worked in corporate lending for 7 years I can definitely say that there are no gremlins there.

The Conditions Precedent are fairly standard, even to the point that most of them you would probably find in a credit agreement if a big 4 bank was lending to Rio or BHP to fund a new project in Australia.

For those naysayers stating that it's only a conditional approval yada yada no one, and I mean no one gets circa 60mil of financing without a whole bunch of conditions precedent to be met prior to final funding. Suggesting that this is not a real finance agreement is a beat up. To have this agreement and be able to announce it to market:

- the bank has done credit assessment on the project and have credit approved the funding (subject to the CPs as stated above)
- whilst full legal negotiations of the rats and mice may not be complete, legal teams on both sides will have negotiated and agreed terms.

So as always on an anonymous internet forum take the comments of posters (including this post) with a grain of salt, read and consider the announcement yourself, do your own research and make your own choices.

Misinformation abounds !!!!