re: Ann: DEBT FUNDING AGREEMENT SECURED AND D... Spot on colquhoun. They will sell down their WCU holdings during the drill as required. The second part of the loan is their fallback position which would be exercised if a) the conditions for a sale of WCU shares were unfavourable at the time, or b) the their cash burn rate was faster than planned and their WCU shares were still in escrow.
For once, this looks like sound risk management.
Cheers,
Disco.
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Ann: DEBT FUNDING AGREEMENT SECURED AND DRILLING , page-24
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