Ann: US$20m debt facility to complete the Lindi Jumbo Project, page-76

Another grammatically poor rambling….although you did provide some humour in your “final market close was totally expected call!” No….some expected massive price uplift.

The fact remains, a term sheet has been signed binding only upon approval, the best of five - at less than favourable commercial terms. Exhorbitant Interest rates / profit share splits which diminishes further NPV of the project, alongside the GOT free carried 17% take (which is yet to be ratified). Can’t imagine how bad the other four term sheets were if this were the best !

The fact also remains that yesterday’s announcement smacks in similarity to the CRDB secured finance announcement - of which we all know failed at the DD / approval phase. Gemcorp still require board sign off, company DD and REGULATORY approval checks. Does WKT encounter the same outcome as previous? The heading of yesterdays announcement was misleading - as the finance is not secured. The market saw it the same way.