The terms of the loan is it is an initial draw of $10.526 with a discount of $0.526 so KCN only gets $10M but has to repay $10.526 - where do you get any notion of the facility being an undrawn back up, it will essentially be fully drawn from day one.
The facility limit of $11.5M covers the possible capitalisation of interest & line fees for the 9 month potential term but the royalties will need to be paid in cash.
The interest & fees equate to an effective annual interest rate in excess of 20% then add the royalties so it is a very pricey facility but beggars can’t be choosers.
I just hope they get their act together & generate sufficient gold sales to repay the facility - it should be relatively straight forward but the recent track record of accomplishing relatively straight forward goals gives rise to a modicum of concern.
- Forums
- ASX - By Stock
- KCN
- Ann: Debt Facility
Ann: Debt Facility, page-22
-
- There are more pages in this discussion • 48 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add KCN (ASX) to my watchlist
|
|||||
Last
$1.28 |
Change
-0.045(3.41%) |
Mkt cap ! $328.6M |
Open | High | Low | Value | Volume |
$1.29 | $1.29 | $1.26 | $483.2K | 378.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5240 | $1.28 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.28 | 878 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 5240 | 1.275 |
2 | 19777 | 1.270 |
1 | 2367 | 1.265 |
2 | 25000 | 1.260 |
1 | 10000 | 1.255 |
Price($) | Vol. | No. |
---|---|---|
1.280 | 878 | 3 |
1.285 | 1857 | 1 |
1.290 | 1857 | 1 |
1.295 | 1857 | 1 |
1.300 | 10000 | 1 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
Featured News
KCN (ASX) Chart |