Ann: Altech - Mezzanine debt due diligence update, page-4

Here we go again running off at tangents with assumptions and guesses.
The $US90M  mezzanine debt from Global banker (German if I recall correctly) is still in train but the bank wants an independant due diligence on the project - cautions and normal for a first inventment in a novel resource IMO. Due diligence completion end November 18. Expect no answer before then. (Due diligence can take much longer in some other cases).
The $US60 stream finance is also not dead yet with an implication (my assumption from the wording) that they will be interested in the due diligence results.
"Assuming a positive result from the Advisian due diligence, the next step for both the proposed mezzanine lender and the stream finance facility provider will be to present the project to respective internal investment committees for final approval."

We could assume - at least I will assume, that the internal presentation and internal project finance approvals will take a little time to convert the due diligence report, back and forth for the odd bit of clarification, and then get the presentation onto Board Agendas and make a decision. It may be that this will not happen over Christmas so expect February announcement of finance (IMO).

In the meantime the project is still being fast-tracked with construction work continuing. Not the usual delay of waiting for finance. Demonstrates a strong confidence by Iggy and his Board. The Geotech study is complete but SH are not going to be given that - it will go to Detail Designers who will design foundations. I am not prepared to speculate whether or not the Geotech says one thing or another.

For those who do not like the timescale required for resource project development or do not like the risks then they may seriously consider other kinds of investment. Always IMHO, DYOR, GLTAH.