Have to say I'm as disappointed as the rest of you here as the project will be very robust in the coming years, especially after 2025.
Reading from today's announcement;
"The net proceeds from the contemplated bond issue together with the Offtake Prepayment Facility (refer to CYM ASX announcement dated 22 December 2022, “USD35M Secured Offtake Prepayment Facility for Nifty Copper Project Restart”) comprised the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project. The terms proposed for the USD denominated senior secured bond were revised and deemed not commercially satisfactory to the Company."
The question here is why?
Did the company reject the bond terms because the financier's demands were higher than expected interest rates or provisions?
Is Barry just holding out trying to gain another offer? If so, is the companies financial advisor making the right call? Or just plain bad advice?
Or alternatively did the lawyers reject the financial terms as wording or structure was wrong?
Every single person including myself on this thread has zero idea of what transacted behind closed doors. Conjecture and innuendo rule the day on HC
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