WKT was offered conditional funding, where WKT has been working through all of the conditions precedent,
if you bothered to read the QTR report, WKT doesn't even show the loan as being available. it does detail it has submitted the final documents that they believe will meet the conditions precedent.
The question still remains, Has WKT spent the US$12mil as required?
What funds will WKT have available after all of the conditions precedent have been met?
Will the company require to raise additional funds for working capital purposes, or will they draw down on the USA investors remaining US$4mil?
BTW, if WKT doesn't meet the conditions precedent, Will they need to delay work at Lindi while they resolve the outstanding issues.
If I was the bank I would be pretty nervous after 13-14 months, WKT still hasn't secured those binding offtake agreements - Conditions subsequent.
(20min delay)