Ann: Development Progress - Lindi Jumbo Mine, page-4073

Repost with out the bait.

Good Morning @oreornothing

WKT has confirmed they were drawing down on all of Gemcorps US$20mil loan facility by the end of March, based on the loan the interest alone is $500k per month, Other conditions of the loan, WKT is required to hold 2 QTR of loan repayments in a seperate bank account which is US$4-5mil (excluding interest). This will show as cash in the QTR cashflow statements, but the funds are restricted where WKT cannot use them.

Other payments WKT requires is the ballon payment to Jinpeng US$700k, they now have the staff costs associated with the processing facility, training ect.

WKT also released a IRR report in December which showed they were expecting to commence mining in Jan, they were expecting to move 60-80k tonnes of material each month, yet the company has only moved a fraction of this to save money and interest.

Final point, WKT HYR detailed WKT was looking at a US$4mil line of credit/working capital facility, this was expected to be approved by the end of March, (no news has been released confirming the loan approval or drawdown) if these funds are unavailable, its likely shareholders will need to fill the void.

Anyway, WKT would have had significant cost over runs with interest payments, staff costs, administration costs which are all due to the 3.5m blow out on getting into production. The pump crew won't mentions these costs, they will simply state WKT has managed to keep within in CAPEX for the plant