Ian announced on 03/02 Board Room Radio Prodcution 2nd Quarter. That it will be mezzanine or interim finance so this is expected until debt finance is arranged. He also highlighted that debt finance would be available early march. This raising will be enough to cover operational expenses to continue the progress in mining. Hopefully it is a strategic investor like an institutional investor rather than a SI.
IFE has a low share capital so potentially the raising will be at a premium. To keep options in the money. A good indication would be above 80c to $1.
Mezzanine would be the best for this raise. Which converts from Debt to Equity if funds are not paid on time. So they have 4 months till the first shipment payment of our ore, to repay.
trading halt, page-20
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