I believe you will find for CRDB to approve the standby letter of credit, they swapped from a form of insurance to wanting $1 for $1 value. In other words, they asked for $ 20 million in cash to provide the SBLC facility...(Unacceptable)
From that point, the standby letter of credit was no longer viable..Had the insurance pathway been allowed as per the agreement with previous directors, Lindi would have been fully funded...
The Gemcorp and shareholder rights issue was a good outcome for shareholders...Inflation has doubled down on peers' CAPEX at the same time
Today the project is fully debt-funded plus some. The treasury has been replenished, and advanced planning is now in play...The company got ahead of inflation, which is far better than any peer has achieved...First-mover advantage over unfunded projects from now on...
Regards Croc (Construction continues at a Rapid pace...) China bans exports of Graphite when demand is expected to go into a supply deficit...
Ann: First Drawdown Senior Debt Facility, page-172
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