10m debt funding 10yr offtake w noble group, page-27

FlyingDoc, you post about interest rate was moderated. But one comment I'll make is about the posters who were concerned about trucking the ore so far. You are not alone in your concerns.

"Tranche A - a second advance of US$5.5m, that is forecast by the Company to be drawn down later this Quarter, and upon satisfaction of a number of conditions precedent and final sign off by Noble and including, amongst other things, execution of documentation in respect to the transportation and export of manganese ore from the Company’s Projects;"

Also, as I mentioned from my email with Jason. Production much earlier than many expected (considering the delays).

"The Company anticipates the first exports under the Off-take Agreement to commence in the 4th Quarter 2012 with CIF deliveries to ports in India, China and the Middle East, or other ports as agreed by the parties."

As for the offtake "price":
"Manganese ore sold under the Off-take Agreement will be priced based on the BHP reference price (expressed in US$
DMTU (per dry metric ton unit Mn content)), CIF China basis."

Interest rate?
"Interest is payable at LIBOR plus a fixed margin per annum."