FFX NPV Calculation - Morila Alone, page-43

Banks don't care about timetables.

I'm actually surprised Doc said "in the next few days" and it seems he corrected himself with "hopefully in the next week", which probably means its in the banks court and outta my control. FFX is probably applying for a $50-70m loan for the short term. Banks will also need to do their own DD and that takes time. The various banks will submit their proposal on capabilities, experience, funding etc and lastly fees. More than likely the bank needs approval from its credit team before submission to FFX. The Doc will get a comparison summary prepared. Then reviewed then submitted to the FFX board for discussion. AND then negotiate the fees. I'm not quite sure how often the Board meets but this would be one of the special board meetings.