Yes would be pretty attractive with Ansteel putting up so much of the capital........ The financing terms of the Development Agreement are generally consistent with the original Karara Joint Venture Feasibility Study Agreement with the Project proposed to be funded on a 70/30 debt to equity ratio. For the equity component of the Project, Ansteel will contribute A$105 million plus 50% of the required equity whilst Gindalbie will contribute the balance of equity funding which equates to approximately 25% of the total equity funding requirement. The Project is now to be developed under an incorporated structure. Earlier this week Gindalbie completed a previously announced A$39 million share placement to Ansteel, giving it a 12.78% interest in the Company.
GBG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
