They can't draw down untill 12 months from production and it is a 18 month construction process so it's really to cover construction and start-up costs .No repayments untill 12 months from drawdown.These guys must be confident as they already have a offtake for 800,000 lbs with Curzon.
10 to 20 million dollars helps reduce the 75 million start-up costs.
They are infront of alot of other developers in the sector and undervalued to others if one believes in nuclear moving forward.
Ann: US$10m Offtake Financing Agreement for Tiris Uranium Project, page-8
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