From what I understand, is that if the company didn't come out of suspension today, there are great obligations imposed in order to relist at a future point.
This announcement looks like it has been carved up to the satisfaction of the legal department of the lender and the ASX. For the company not to have named the lender, this looks to be at the request of this party until such time as formal approval is received.
The positives here being it's essentially a government back bank moving to formalise debt for the project, which in theory should yield a decent outcome for the group.
It sounds as though they are very close in this first party formalising, which should see the balance of debt counterparties finalise in pretty quick succession is my guess.
BKT Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
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