Definition of line fee:
Line fees are charged to compensate the lender for their commitment to lend or for holding unused funds in a facility. As mentioned in our blog on development loan structures, interest is typically only charged on the drawn balance of the loan.
….
That suggests this is a line of credit loan….KCN only has to draw down if and what it needs when it suits …I think.
That is good news….because that means this loan is more a back-up loan should we need it????
I was hoping we didn’t need a loan and that we were self funding plant 1 and that plant 1 was just about paid for anyway and that production from mining was now bringing in more ozs …. And that lotus hall was happy for KCn to keep paying its 12% a year …
…
what an appallingly written announcement from KCN…do they hate us or something?
Ann: Debt Facility, page-20
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Mkt cap ! $431.7M | |||
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