Hi R08,
It will be interesting to see if their legal review covers WKT's failure to issue the GoT their free carried interest and if they discover that concentrate might be prohibited from export as another ASX company's legal advice indicated.
I really wonder how advanced the other 4 term sheet were if this is the best deal WKT can announce - A conditional Term Sheet.
How many months has WKT been working on these funding options, didn't they start back in when WKT failed to raise the $33mil last year?
To only see WKT announce US$20-25 mil of conditional funding is very disappointing, We all know other conditions have been too onerous for WKT to achieve. It looks like we have to way until May to see if WKT can secure these funds.
Looking forward to seeing BMCG make a killing out of the pumping that will occur by the WKT promoters. I can certainly understand why BMCG didn't convert at 8.5, they can still convert their US$2.5mil at 9c.
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Ann: US$20m debt facility to complete the Lindi Jumbo Project, page-19
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