10m debt funding 10yr offtake w noble group, page-32

Oh, the announcement didn't mention Empire would be paid in fees I don't think NathanB.

I think your right, if they can get the second tranche funded the market reaction will be different. At this stage, its $500k funding.

Its structured as prepayments for ore. I guess they will not provide the $5.5m until they are sure the ore can be extracted and shipped. I've not followed that closely but don't they need to spend more money to get to the point of stock piling ore? So its not clear what the conditions precedent to drawdown are but I'm picking Kab need more cash to meet them. And then Noble still need to give their final agreement.

I suspect the stock was supposed to rally here, or with other news you've suggested such as drill results that are ready, and then a placement.

Am I looking at this news just too negatively or incorrectly?