Hi F&B..
Agree with the above statement - I have taken this out of the FML PFS
Hence the comment about 40-50m.. they will require working capital as well.
FML have a 20m loan at 3.5% interest rate for 3years for unsecure with SD-Gold (Chinese). They need to make full repayment by year 3 (started date Oct 2020). This gives less than 2 years to get into production and need 9 months to update the plant. If SD-Gold does not provide additional support they will be first in-line to acquire FML assets as an indirect TO.
Apologies all - this is all speculation about BCN could potential acquisition.
MacPhersons project was acquired from a Chinese company.....
DYOR - these are my last comments on FML.
Ann: 2021 Annual General Meeting Presentation, page-31
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