Ann: Black Swan Engineering - Key Outcomes, page-24

Hey cmon mate, get real, this is really lower capex and all in costs than i thought.
They clearly say its $9.4M to get the mill working and the rest is for windarra including 3.4M connected road sealing 30km and windarra mine refurbishment & equipment 4.8M, the resource drilling and project costs, mine capital are all unnecessary padding or add ons - they have already been working on the windarra refurb since the CR ie water pumps installed etc.

The road can be done in 1 month, windarra can be ready in 1-2 months with more pumps etc (they have worked on it for over 14 years remember) and the resource drilling is unneeded right now and can wait till a year after mine restart which has to be the focus now at the current nickel price.

The surpise for me is how low this cost actually is after you strip out padding, it can be restarted for $23M forget about 50M talked about,


They will get financing for 100M for this from jefferies bank or AFs bankers credit suisse, maybe 50-50 CH to credit line starting asap, could be announced by Monday as fredy says. I reckon AF will convert his loan to shares in a sweetheart deal ie convertible notes like jefferies as AF does not want his loan back he wants the shares. His $8M loan is due to be paid this October so they will announce its rolled over for a year again or AF can show his support by topping up the loan to $14M or converting it into a CN.

So fredy you knew this ann was coming early this morning, you know the staff in the POS office. You are teasing us with your diatribe but i am reading it all. Please fredy predict the loan amount and from whom and when it is being announced and i will give you a brownie point. As when thats announced the SP will go to 35c as you said before by end August. You got 14 days left on your prediction

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