I think this just a rehash of what was said in th e4th quarter report(see below) re algerian bank loaning up to 70% of the funds needed for TH and presumably the other 30% of funds coming from earnings from angas over the next few years
The Tala Hamza project is on track to meet financing requirements when the capital spend commences in 2011. Two banks have submitted indicative proposals, of note a proposal for financing 70% of the project capital based on the pre-feasibility study estimate of US$266 million.
To meet its equity share in the project, Terramin also has the option to draw on cash flows from its Angas operations which are based on EBITDA forecasts of
A$30 million per annum in 2010 and increasing to over A$45 million in 2012.
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