Also, just to add to the muppets banging on about how there's no details in this 'agreement'... I know you don't read, but come on... it's in the first few dotpoints. "binding term sheet" followed by:
- AVZ and Locke will negotiate in good faith to execute a formal agreement on
terms consistent with the Term Sheet as soon as possible, or in any case before
31 March 2024
- Upon completion of due diligence by Locke, and subject to approval of its
Investment Committee and negotiation and execution of final documentation,
Locke will advance funds to AVZ to be deployed in connection with the Manono
Project
For those that still need help, this means that AVZ has engaged Locke for a $20M borrowing facility, with terms (i.e. the missing details) yet to come. I would imagine that Locke will now take on board AVZ's argument and legal case, review it, then look at a standardised rate of interest for private lending, and determine the additional rate of risk premium they will add based on their assessment of likelihood that AVZ will be able to proceed and actually repay the facility. They will then negotiate over this. They have until 31 March 2024 to do so. So like any smart cookie, they'll take their time to do their dilligence and watch the outcomes of the short term cases, and imo we won't see a further offer or negotiated details until at least February 2024.
Either way, us LTH know that all you good "not held" folks are only looking out for our best interests, but the fear mongering without any basis is phenomenal. Give it a rest already.
