How funny, WKT has signed a term sheet and needs US$20mil to complete the project and provide working capital, I do recall arguments with @96Blitz where I advised WKT needs US$40mil to build the processing facility and provide working capital, but he called me a liar, yet again WKT own announcements have confirmed my assessment was correct.
It proves Croc and Co were incorrect with their assessment that WKT only needed US$2.5mil. if you use the higher amount WKT needs, they are only out by a factor of 10.
This should create enough interest for BMCG to sell more of their 10 mil free shares. It looks like we will have to wait a bit longer to see if WKT can turn this term sheet into a binding agreement, all other term sheets have failed.
Ann: US$20m debt facility to complete the Lindi Jumbo Project, page-10
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