good news: senior loan facility, page-11

Timbogold

You're gently pulling yourself, surely.

De-risked? Try heap leaching for risk??

There WILL be an equity gap required over bank finance and it WILL be required to be raised and spent on the project pre-drawdown; as always.

Last I checked, GRY hadn't even infill drilled enough to substantiate a proven reserve more than 15% of the indicated reserve. Banks don't lend on indicated.

This is a "mandate to procure loan finance". Not a credit approved bank loan subject to term.

Eg, a mortgage broker agreeing to hawk your home loan to banks to get a deal....

Cheers