The syndication process is being aggressively pursued with a number of Brazilian banks vying for participation in the financing.
Due-diligence by the banks on the Antas Reserves and Engineering is on-going. Avanco does not envisage any surprises or delays arising from due-diligence and is aiming to complete the debt funding programme during Qu4. The Company is financially strong and can draw on its cash reserves to initiate site works as soon as preliminary funding terms have been confirmed with the syndicate.
AVB is confident Finance settlement prior to Christmas. Q4. Only 8 weeks remain in Q4.
AVB Price at posting:
8.9¢ Sentiment: Hold Disclosure: Held
