Future injection of a minimum of US$2m to Lindi Jumbo to bolster project cashflows

WKT announced on the 2nd of July, they had extended the grace period with their lenders "Gemcorp" and advised "The Company has
committed to a future injection of a minimum of US$2m to Lindi Jumbo to bolster project cashflows"

According to @GGtrader and @sirrobbo I have reading and comprehension issues, so I though I would start a new thread where they can debunk my post if I have made any inaccurate comments




With WKT stating they intend to draw smaller amounts likely during July and August and they also stated the operating costs of the Lindi Jumbo Mine was expect to be US$1.4-1.5 mil per months, we know the Gemcorp loan facilities US$20mil (fully drawn) has a 19.21% interest rate and the US$5mil Back up (Drawn $2mil) attracts an interest rate of 21.21%. We also know that WKT has to cover its directors and corporate fees for WKT.

I have asked a few times on HC, where these minimum US2mil will come from, or when they will required, I would assume these funds will be needed in the near future as they have already highlighted they need US$4mil in working capital from the Tanzania banks and it appears there will be very little funds remaining from Gemcorps back up facility. So for these posters avoid the question which is concerning.

My question to the LTH holders, if the company was to raise these funds on market from a SPP or entitlement issue, would you take part?

@Stirer @SpareCash7 @sirrobbo @semi retired @Croc-file @GGtrader I am keen to hear your thoughts and if you would participate/take up your full entitlement in any offer is required.