Hi HongKongPhooey,
WKT just lost access to $14mil AUD, they are yet to complete the mine, complete commissioning and are soon to suffer the significant OPEX on a project that is not going to see any significant revenues during ramp up/customer evaluation.
plus we have the loan requirement where 2 qtrs of loan repayments needs to be held in cash, these repayments start at the end of September.
WKT cannot afford for any breakdowns, commissioning issues, delays in customer qualification, or failure in selling all of the graphite they can produce.
I glad to hear that you are all excited WKT only funding solution is the credit card loans they have. This is much higher risk than BMCG's facility or raising funds from shareholders.
Ann: Expiry of BMCG funding facility, page-10
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