The Company hascommitted to a future injection of a minimum of US$2m to Lindi Jumbo to bolster project cashflows and thesenior debt lender will now be entitled to cash sweeps above US$3m, reduced from US$5m to reduce debt.The Company now has the option to acquire the senior lenders share of free cashflow after debt servicing forUS$5m if settled before 30 June 2026.
If you read the whole $2m injection in context it sounds more like they will be paying this directly to Wogen as a part payment to pay out Wogens percentage of free cash agreement.
The next line says
The Company is seeking approval for a bank overdraft with a local Tanzanian bank once first pilot salesproceeds are received.
Will the company be using the overdraft to free up cash from sales to use as above?
Ann: Lindi Jumbo gears up for first graphite concentrate export, page-70
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