Ann: Sangomar FID and US$300M underwritten senior facility, page-63

Don't let facts ruin a good story! It is a well known fact to everyone bar you and the resident know it alls on the FAR thread that FAR was notified late October that Capex had increased by 40%. That is an additional US$140M. I would guarantee that FAR had no thought of having to raise US$300M in senior debt up until then. They were probably looking at the low to mid US$200M. So 10 weeks to sort the funding out is quite good. I have other investments, one of which is also in Africa and they were able to raise US$200M at 7.75% back in late 2018. The difference is that they are a gold company and have a higher IRR than FAR.