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31.7¢ danakali limited

Ann: Chairman's Letter, page-26

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15/12/20

06:14

Post #: 49575397
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Originally posted by StockExplorer: ↑

few days ago I sent a request to Danakali management concerning the present situation.
I got the following answer from Mark Riseley:
Thank you for your email regarding the below matters.
In terms of the comment related to the timing of construction, unfortunately, like all project finance, equity funding and spend is a prerequisite before drawdown. A full funding solution is being worked on currently as mentioned in the Chairman’s letter.
The market forces are something we can’t control. We do know who is selling the shares and why, and it has nothing to do with the project. Sometimes institutions change their investment strategy which is something we can’t control.
We remain committed to the project and our in country team is working closely with the Eritrean Government departments with whom we have strong supportive relationships with.

Please let me know if I can be of further assistance.

Regards

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Thanks for that. But, it doesn't realky answer the 2 basic questions:

1) Why is funding so elusive for this project, and what specific conditions did we fail to meet, for the 2nd AFC/Afreximbank tranche payment to be denied?

AND

2) What specifically are these 'alternatives' the company is looking into?..ie. paint us a pathway.
DNK Price at posting: 28.5¢ Sentiment: Hold Disclosure: Held
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