Hi Sparecash, I believe Spids argument was a need for more funds to take the project thru to revenue/profitability stage, largely due to project delays. Whether those funds come from further debt instruments or from capital raisings doesn't mean his argument was incorrect. Debt is a source of funds.
Hopefully the Tanzanian bank provides some funds at lower interest rates than Gemcorp, which shouldn't be difficult given their rates.
Ann: Half Yearly Report and Accounts, page-30
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