Hello bigjig
Thanks for the reply.
I have checked out the announcement, there is no doubt ABU would like to self fund each stage and time will tell.
The announcement said there are 2 tranches for the loan of 10 mil and ABU require a minimum cash balance upon completion of stage one. Its a pity ABU haven't mentioned what the minimum cash balance is.
Extract from the ANZ loan facility announcement
Upon completion of the Stage One trial mining and processing the Company will move to purchase several items which are rented in Stage One including the accommodation village, fuel tanks and power generation plants as well as
possibly purchasing its own mining fleet (as opposed to contract mining). The Company considers the
ANZ facility as a backup in the event of significant changes in market conditions.
What we don't know is what the cost will be to purchase the items mentioned.
I don't believe a CR can be ruled out.
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