Hi thecone,
If I interpret the HoA with AGL correctly, MEL should receive a prepayment of around $3.75million from AGL (25% of the AGL upfront payment of $15 million to the JV in three tranches as the project moves to first gas) to fund their share of the Vali development costs, subject to execution of the GSA and satisfaction of various conditions precedents. Surely signing of the commercial documents (Gas Sales Agreement with AGL and Gas Processing Agreement with Santos) is only a week or two away.
And it's only been 6 months since the July 2021 cap. raise. But as you say, "it takes money to make money".............
Kind regards OldGeo
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Mkt cap ! $3.665M | |||
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