This is from one of the announce released last year regarding debt financing.
"The Company and Xinhai are cooperating to secure financing for future beneficiation plants, up to a production target of 2.5 million tonnes per annum."
"Xinhai has a strong history with Chinese import/export banks to provide funding for EPC projects throughout its global footprint. The Company and Xinhai are cooperating to secure financing for future beneficiation plants up to a concentrate production target of 2.5 million tonnes per annum."
Mind you, Cedric did also stat the following and obviously did not meet target dates:
1. Build an additional 200,000 tonnes of concentrate capacity, with commissioning targeted to commence in July 2017, subject to the above,
2. Build a 1 million tonne concentrate plant, with commissioning targeted to commence in December 2018, 3. Build a 1 million tonne concentrate plant, with commissioning targeted to commence in December 2019, Xinhai will also optimise the existing beneficiation plant to produce a routine operating concentrate grade ranging between 63-65% Fe.
Sorry guys, just really annoyed that Cedric does not do what he says and also doesn't inform us of any changes. We are kept in the dark but obviously First Samuel is given pole position.
