guys, please just go back and read my posts (if you have the...

guys, please just go back and read my posts (if you have the time and energy!) which explain how the financing should be done. (caveat as phw says above - things can always change and this is just my view) but as we speak IMO the plan is this. And its now underway!

1.DNK need A$330 mill to finish the project
2. Under Eritrean laws max A$280 of that can be debt.(I'm led to believe)
3. 200 mill debt has already been committed by AFC and Afrexim bank
4 So they need 130 mill (ish) more to complete.

That should happen in three phases as follows this (read my lips)
1. A$ 20 mill cash raise now - (just done). This is the minimum the co could raise now (its less dilutive of course to raise more equity later at higher SP) However under the agreed rules with their co partner govt mining co Eramco DNK have to have the full funding in place to start certain phases of work (so local contractors don't get stiffed etc). For phase 1 works they need A$ 20 mill. (thats road, water supply, workers camp etc as explained in their ann this morning ). They have this cash now and will now get to work -as they state in their official announcement "IMMEDIATELY"

2. I don't know the exact details but as with most deals this extra equity in (A$ 40 mill equity has already been spent) and then work on going this can then free up the full debt and Imo plus the additional A$ 80 mill ish of new debt to take it to the max. Bankers -like shareholders- want to see real equity being spent and work progressing to agree to commit more funds.
Why am I so confident to say this will happen?- Heres why - AFC and Afrexim bank are two giant multi-billion USD banks- they are supported by the governments of 30 African countries that have a combined GDP and population way bigger than Australia. And all those countries want more cheap fertilizer and food security (indeed Afreximbank is the sub bank under the ADB founded mainly to fund programmes that increase food security for the African member states). _So this is exactly the sort of project they want to fund- It covers all bases, Its sanctioned by the UN it does the job they re meant to and thew 200 year long mine life and vast profits when it gets going make it perfect for big loans. These two Banks have already committed A$ 200 million senior dabt and more importantly A$30 million equity at 60 cents - they are directors and the largest shareholders. Do you think for one minute they can't or won't fund the rest of the A$80 mill to get the project done now?. But they -just like us shareholders -want to see the work on the ground progressing. More commitment from management to get it done. Then IMO they will soonish announce full debt financing for the project. (of around A$ 80 mill more) why on earth would they not? its almost as sure as night following day to me.Just think logically. Im African I get it.

3 That then only leaves the last tranche of 30mill (ish) of equity to go- this IMO will be easy to raise -much easier than the last 20 mill they just did -why? because its the last money in - so much much less financing risk involved - we 10Ba99er club members know -and Neil Gregson the ex JPMorgan resource fund director who reps DNk in London knows - and Shore securities their new broker there know - many funders in London who do this sort of last money in financing in dodgy countries- there's also all the Aussie instos - they will pay a bit more per share to have less risk . Its also gonna be FOMO money, as in potential funders who till now imagined they could bargain with DNK over terms will realise holy cow! this is almost fully funded and gonna happen without us and they will then jump in for the last bit of financing. As will shareholders as the price rises. just watch.

IMO this last equity tranche will be left as late as possible to get it done at hopefully a much higher share price to be less dilutive. It makes sense.

Then its funded!!!- 50 mill equity and 280 mill debt- just as has been laid out in the DFS. And Just as I've been saying in my past posts IMO. Then we can all make our big money thereafter every year and hopefully increasing YOY as they move from module 1 production to module 2 to module 3 and this become a billion-dollar cap co as it should be - and as most others cos with much lesser resources of potash are already!.

It also means the 5 or so multi-billion USD companies that i hear are now circling and doing due diligence and negotiating with Eramnco to buy out this project - will have to move to bid us out if they want it -. And the potential buy-out price will from now on hopefully keep increasing instead of reducing - as it had been the last few years. Remember he who controls this resource controls the price and market in SOP fertilizer for the next decades IMO. These giant companies all want or need to own it, Th bidding war could be interesting as a shareholder!!!

And we decide as shareholders can what price to sell at- not management - or not- frankly IMO, there's far more in it for us if we don't sell out.
and now the funding train has left the station - why should we sell now unless the buy price is nearer 1.50 -2$ a share than here IMO.

So IMO thats how its will be funded. Just watch and weep you negative nellies and infidel non believers out there.

(of course things can go wrong but this IMO is the plan and I for one am running with it)

DYOR and good luck all.