Great to finally be talking about the need for operating capital until revenue starts to flow!
Yup bound to be some consideration in the total amount borrowed for operating costs. I'm assuming even more will be provided for additional investment in other aspects of the company.
Wouldn't take Spids advice on brands of kitty litter let alone how to finance and run a company.
The interest rate is not likely to be as good as the CRBD deal given the market changes (probably the reason CRBD made it impossible for WKT to draw down). But it will be a better deal than any of the interim deals required to keep the company solvent.
The interim deals allowed two things:
- kept the company solvent
- allowed time freedom to close a better deal without being desperate
Not often I'll say that I'm grateful for BMCG - but they are helping us get a mine built. That said - true market share price won't be achieved until they are gone!! Guess that is part of the price of developing a multi million $$ mine.....
Looking forward to hearing how the funding is going to be restructured, supplier credit paid out, and hopefully a time line til when we start getting facts and figures on mine performance
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