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Ann: Annual Report to shareholders, page-271

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Names little

18,190 Posts.

1329

11/10/24

22:14

Post #: 76089056
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Originally posted by SpareCash7: ↑

The cash sweeps go towards repaying the loan amount anyway Nameslittle. Who would be stupid enough to sign an agreement allowing Gemcorp to take early cash sweeps restricting WKT’s ability to service its loan agreement as Lindi Jumbo is still establishing itself. The decision to take out the US$3-4mil overdraft is also evidence of why the two full quarters of debt servicing was agreed to by both parties WKT and Gemcorp. It’s really not that hard to get your head around. Unless of course you’re not trying and wanting to hijack the forum.

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Hi Sparecash , I am not interested in the cash sweeps or what Gemcorp has to do with them.
But I am interested in the Groups requirement to hold two current quarters of debt payments at all times. Hope that helps you focus.

WKT Price at posting: 10.0¢ Sentiment: None Disclosure: Not Held
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