Please read, and digest the company's 30/01/25 Credit Approval announcement.
$113 million term debt financing facility to refinance the existing debt, for capitalisation of interest, to fund development of the Company’s South Erregulla Power Project and provides general working capital;
This tells me that the payment due on 30/03/2025 has been refinanced so 30/03/2025 is no longer relevant.
You can believe what you want about W7 and W8 and that they were drilled at the behest of Macquarie. No one will stop you. The fact remains - that the Macquarie approval announcement was made without any further information on the results from W7 and W8.
The delay in WE FID does not have a butterfly effect on the refinance? In the second half of the announcement $40M for WE is still subject to negotiation. This to be expected because Strike and Gina have not worked what they are going to do with WE yet. I don't know, but I will hazard a guess that the $40M was flagged as a possible requirement in case the JC partners decide to pipe the gas to the Waitsia gas plant - rather than going the AGIG route and STX will have to pay for half the pipeline..
STX Price at posting:
17.5¢ Sentiment: None Disclosure: Held
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