stringtickler,
I spoke with Andrew Meloncelli regarding my unanswered questions, and have to say that he is extremely personable and professional,and have the following to report---
(1)China Development Bank is part of the finance syndicate,
(2)There are security issues,but he considers them to be normal and part of Project Financing requirements,
(3)He is confident of a near term completion of negotiations relating to outstanding finance documentation conditions,and
(4)whilst not totally familiar with the Creat Group/CRHL fund raising effort,is confident that the $27.5Million will be forth-coming,no matter what.
In accordance with GXY guidance,I am now awaiting the announcements during April of the completion of financing and the following monies to be paid to GXY---
(1)$40 Million drawdown of the Project finance and
(2)$27.5 Million to be paid by Creat Group or CRHL for the balance of the 19.99% shareholding.
That,of course,has to occur to prove that no problem exists.
Good Luck to all.
thelynxx
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