Ann: Development progress - Lindi Jumbo project, page-1540

Hi Sparecash, you seem very angry, is everything okay, or are you becoming aggressive because you were unable to substantiate your claim about the first of August?

As Names said above, there was a discussion on BMCG converting its equity with only ~1 month left until the deal expired. We have all been wondering why BMCG had not converted its equity when they were very active only a few weeks earlier.

I provided my commentary based on BMCG converting its equity on the 5d VWAP- 8.5 cent and WKT paying them out based on the 12 cents SP, along with BMCG allowing for the deal to expire where they would be repaid their ~$1.3mil AUD investment.

If you look hard enough, I also suggest once BMCG was provided with their funds, they would then provide WKT with the US$700k to complete the second funding agreement.

As you would be aware, BMCG and WKT come to a mutual agreement on Friday where they decided on a payout of US$955k for US$850k of unconverted remaining equity, If you consider the original funding agreement was based on BMCG providing US$6.0mil in cash, but they would be issued with ~US$6.3mil in equity, it might explain why the payout was reduced from US$860k (that I used in my calculation) down to US$850k with the final payout.

What are your thoughts on why WKT extended the proposed issue of securities on Friday night, do you think my third scenario is in play, or do you think the extension was required for more bridging loan options to be issued?
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4gi8zBn0v%2BBy67FiGug%3D