WKT 0.00% 10.5¢ walkabout resources ltd

Ann: Lindi Jumbo and Gemcorp execute final US$20m debt facility, page-3

  1. 16,037 Posts.
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    Oh god, WKT really didnt have any other option for funding, i cannot believe Gemcorp are entitled to a 14% margin over the current interest rate. Wont this mean WKT is paying around 18.25%interest.

    free margin lol

    "Gemcorp will also be entitled to cash sweeps of 25 -50% of any cash surplus over US$5m to be applied against the outstanding loan principal."

    Who said this deal was better than dilution?

    i can certainly see why Gemcorp approved this finance deal, IMO shareholders would be better off with BMCGs convertible equity and no free margin or the credit card interest rate.


 
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