Walkabout taps Aitken Murray, Fosters for placement, page-7

Good morning croc,

I did ask this yesterday, you and semi seem to be avoiding the topic.

I was hoping one of the WKT bulls or T6 could answer the question.

Mike (director) and 5 other shareholders had $13.75mil ready to fund the Lindi jumbo project when WKT launched the Nordic Bonds (US$40mil). 18m months later, WKT is offered US$20mil from a Tanzanian bank, where they only need to raise $15.5 mil to meet the equity proportion of the loan. This is only $1.75mil more than the fund the T6 had available.

It seems odd to me, that the company could have funded the project with the T6 and offering an SPP to cover the companies working capital requirements. Total $19mil, (Fosters will take around 6% fee for raising the funds)

We have heard from many of the WKT bulls and a few of the T6 Investors (On HC and Twitter) how fantastic the WKT investment is, where some have called a future SP of 75c when the company is fully funded.

Don't you think it's odd that these investors are now giving up around 20% of the company to Foster Stock Broking clients, with a 20% discount to the current SP, Where the T6 (including Mike Company director) 18 months ago thought WKT funded was worth 35c per share when the company secured funding?

What has changed?