Unsure if you’re aware they were hoping for IDC’s $16m to be used as 1st lot (of the total $ needed over 3 yrs) but IDC’s $ will be the last one avail so draw dawn is subject to company having funds for remaining portion as needed in the DFS.
on current pog, need $53m over 3 yrs (excluding benefit of better usd-zar)
will get $16m from IDC once remaining $37m or so is sorted (risk mitigation I suppose as it’s tier 1 debt).
$10m of that $37m to come from Wingfield (again to be used at backend).
irrespective of when IDC completes DD (not much wwi can do except sharing details as/when requested), roadblock isn’t the DD itself but the remaining $ needed.
while that’s about $27m usd, both MQ-Simon were confident once we get $15m or so, will get the ball rolling towards the timeline of 8months approx for 1st 30kt ore delivery.
unless you’re a major holder + have support from wingfield, tony stella, other majors to have enough voting power & have an alternate to replace Mq/anyone else, aren’t going to see a change in leadership.
if you’ve lost trust/patience/both etc you can choose to sell & move on. That’s a controllable available always. If you reckon wwi will find the remaining $ needed to get this started (which’ll activate/make it easier to draw down on the $26m when needed from Wingfield+IDC) then hold & wait for it to play out.
end of the day, Buy/Hold/Sell is all that’s feasible no matter how many threads/msgs on hotcop etc.
WWI Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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