Hi Croc,
As you know the back up facility from Gemcorp is an incremental loan, this means it has limitations on its drawdown.
I cannot imagine Gemcorp would be impressed with WKT managements ability to bring a projected online, WKT thought they would be producting salable graphite at the end of last year, yet was are still undergoing commissioning,
As you would know, the US$20mil loan if now fully drawn with interest payments costing WKT $488k per month, the company also needs to keep 2QTR of loan repayments to comply with the loan agreement,
There will be very little funds available for the company to cover working capital, pay Jinpeng, the mining contractors and all other costs associated with the project.
Even one of your fellow pumpers worked out WKT would run out of funds due to the company needing to pay the loans with no sales revenues arriving like he forecast. Has anyone seen @Gammat its concerning he went missing when it was pointed out the loans are not interest free as he and the bull rider claimed.
Hi Croc,As you know the back up facility from Gemcorp is an...
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| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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