fully funded

Great announcement today, as usual greater with no buying pressure whatsoever!!

Anyhow, it appears to me as if UNV are pretty much fully funded now for Kangala development.

Sure there are still a few issues with Power Origin but if these are ironed out, no more funding should be required for Kangala.

Project financing of 65% through debt, the remainder of the capex is $16.5m due to having to carry the BEE holders through the capex stage.

Current cash = $8.5m
Power origin = $6.7m (VWAP was stated at 18.7c for the full $10m but the VWAP is 16.3c so I have assumed only receiving 87% of the $10m.
Converting note draw down = $5.0m
Total available cash = $20.2m

So should be fully funded for Kangala development now, so hopefully people will start to realise what a great opportunity this is. I'd love to know the lifting costs, and I guess the one blight around this is that I'm not sure what the thermal coal price assumption was to calculate the $15m EBITDA / annum forecast for the mine. Maybe this is what is swaying investors not to buy in. Buy side continuing to look very weak despite seemingly sorting the financing issue.