IMC Funding FacilityMillennium has completed the second drawn-down of A$5 million from the mezzanine debt facility provided by its major shareholder, IMC Group (IMC Facility), announced on 23 May 2019.As outlined in that announcement, this second draw-down was subject to production of not less than 6,750 ounces of gold in June. Actual gold production for June was 6,575 ounces, slightly below the required production hurdle, and Millennium has received a waiver from IMC regarding this requirement
June, I smell a rat, June quarter with everything runnung well, very poor production.
On a yearly basis, only 79,000 ounces a year.
Do not know much about new plant, but costs likely to go up, power, chemicals, maintenace etc.
Only the staff that work the plant will know, the real picture.
They need to pull a rabbit out of a hat and I have bailed. You will know if, Peter Cash resigns, that the party is over.
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