The short answer is no. OT’s are not required before finance.
As has been outlined by many here including myself. There are plenty of big non-traditional non-Chinese financial institutions that have a lot of access to cheap money in the current economic climate that needs to be invested. An investment in a Tier 1 project in a green tech field with a quick return on investment is a perfect example of where investments will be made. Developing Manono/AVZ is the perfect opportunity.
The best outcome for AVZ shareholders is if the company could secure full debt financing from one of these non-traditional, non-Chinese entities at a low rate. Once this is achieved, AVZ then holds all the power and can dictate OT’s to whoever they choose at terms favourable to the company. This sequence of events coupled with a possible dual listing on another overseas board (eg LSE this allowing big international investment players access) will bring best returns to shareholders and massive returns.
I suspect the company may well be considering something like the above and would explain why there has been no rush to sign an OT. Just because there isn’t news currently doesn’t mean great things aren’t being finalised in the background.
It’s precisely this time most patience is needed and also when it will hopefully soon be most richly rewarded.
AIMHO
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