Listening to the video yesterday (Proactive Investors), there...

Listening to the video yesterday (Proactive Investors), there was a lot of interesting points discussed by MJ. I thinks it’s time for a bit of conjecture (life’s too short not too). And it’s all in the fun of trading minors.

His opening gambit was that the PPL was all positive and the closing comment was “looking forward to a great ‘22”. But what about 5 mins in between?

Ref. the tenor of loan issue and 402(A) was interesting and that the loan could be spread over a longer period for the same @2.2%, that would be the flex downstream. There may also be some other flex in there now the PPL has confirmed EXIM to be the sole lender of the project.

Then the Equity piece, from about 3:15mins in, strategic equity to be in the new year but sequencing is forecast to still enable being out on site for 2nd half of first half ‘22 (June for all intents).

Now conjecture, I think the PPL surprised IBG and the board, they would have been set, presumably, with Bacchus to get additional funding then up pops the windfall.

Bit of disarray follows, of the best possible kind and a new plan has to be put in motion quick. Think about it, and for those, like me, who work on mega projects, it goes something like;

Wtf? Quick spark up a plan and get some costs to forecast the next 6 months. This has changed a few things. How much do we need? 2-4m ok a CR immediately (now done), then what?

We need to get this synced so that we hit the site timescale (June). How long for DD phase 2, Bacchus, what can you do around approaches done to sync to this loan? Ok timescales and staging, what are they?

Right we need x,y,x in place for January, we need A,B,C by June to coincide with the EXIM requirements and DD phase 2 and we need to conclude by end May.

So there we are; all good, placement done, funding to succeed done, first announcements plugged in from Early January according to the video and forecast completion of debt/equity to staging as an interlinked facility by June.

IMO - yes I didn’t like to miss out on the post funding gain CR, but I reckon I understand it (above). I think Bacchus had loan facility done to a point (the early discussion) but now they don’t need it, so a major adjustment is required on quick time to the same interested parties. And the video confirmed the anticipated site arrival before end of June’22.

Methinks it will be a happy new year. Lots going on and the CR will be a necessity and water under the bridge.

Good luck to all holders and I hope you enjoy the little conjecture above. Let’s hope some of it is close to the mark.