Classic notes that the funding is unsecured and non-recourse to the extent that Goldvalley’s funding can only be repaid
out of revenues derived from processing Kat Gap ore.
One important point that is not clear regarding the funding:
Do Goldvalley get 30% of the proceeds PLUS the $10m in funding is paid back from Classic's 70% share? Or does their 30% share of the spoils include the $10m? Hopefully the latter, because the former makes it overly costly for Classic.
Classic notes that the funding is unsecured and non-recourse to...
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