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Hi chuk, just wondering what your take is on the p18 slide in...

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    Hi chuk, just wondering what your take is on the p18 slide in the latest presentation you posted a while back.

    The "$15m Working Capital/Term Facility (Local banks negotiating)"

    In your opinion is that US$10m working capital + US$5m for capex (which would cover stage 1)
    They show required working capital as $10m (assume from IDC CP)
    If that's the case the approval of either the Bank loan or the equity injection would enable construction to start.

    The reason I ask is because they show Equity raised in April as $5m - that has to be AUD$5m with maybe $1m to keep the lights on (they only raised US$4m A$6m), so I thought maybe the $15m is also AUD equating to the US$10m working capital required. All the other figures seem to be in USD.

    The top part you have underlined in red seems very positive talking of "offtake commitment" - If it's a commitment it will be reflected in the signed offtake agreement soon to be announced.

    https://hotcopper.com.au/data/attachments/6242/6242212-d22a7cb6120b2eec3804ebfd91ba4ff3.jpg

 
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