So R&D rebate to come Jan 2022, and first tranche draw down of $10mil to be done before feb 2022…if we assume rebate is around the same it was last year of about $9mil, could LMG wait for the R&D rebate in January, THEN draw down $10mil first tranche and instantly pay some/most of it back, thus significantly reducing the interest in that first tranche? Rinse and repeat for the second tranche?
just thinking out loud here..
Ann: LMG finalises term sheet for $23M of project funding, page-28
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