CKA 2.25% 8.7¢ cokal limited

Ann: BBM Coking Coal Project Funding Update, page-16

  1. 165 Posts.
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    Agreeing dates for a simple funds transfer are not that difficult, even allowing for clearance and administration. "Sometime this week" is a bit vague.
    Surely there must be other things being squared away in the background.
    Surely.

    Anyway, I think the 'clarification' that issuing Domain title to BBM coking coal happens after production hits 2mtpa is really a 'reminder'. FWIW I understood/assumed that timing of change of title was a given. I feel this comment is there
    to calm/re-assure given the delay in receipt of first $1m instalment. Could be wrong.

    If taken at face value, this Domain arrangement should be enough to satisfy the budgeting conditions under the Platinum debt/production royalty swap. It gets rid of one noose from around our necks. Second noose to get rid of
    is satisfying the production conditions within the same Platinum debt/production royalty swap. If that second noose can the removed then DM can resist any urge to put CKA's head into a third noose i.e. drawing more funds from Magna. No more nooses please DM.

    Also, this announcement seems to clarify that BBM PCI is considered a separate project, i.e. Domain not funding or receiving any return. That is a small plus.
 
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