Ann: Release of Security held by CRDB, page-48

Answer to your first question would be none. the first rule in mine financing is to deal only with banks that are experienced mine financiers because as you quite rightly point out, the others don't understand the risks and hit the panic button and shut it down at the first thing that goes wrong.

But for WKT to have signed up with CRDB in the first place can only mean that the experienced mining banks weren't interested. But how WHT could have even contemplated a bank facility that needed not only full project securities but also a 100% cash backed SBLC is beyond me. it was never going to work.

Going fwd and getting a 10m loan, there are a few smaller PE backed players lurking in NY that have appetite for higher risk, but IMHO i don't think even they would bank a graphite project in Tz. I hope they raise the $10m but they will need to do something out of the box.