Ann: Development progress - Lindi Jumbo project, page-462

Hi Stirer,

You don't know any of the conditions that are attached to the loan, the interest rate or the free margin Gemcorp is entitled to. These are more important than the loan term when

I also don't know why you believe the company will able to refinance the loan once it is in production.
I find that comment pure fantasy, No lender is going to take on the risk of completing a project, commission then moving to a saleable product, then allow WKT to refinance the loan with some other lender for a lower interest rate.How many fixed-term contracts have you been involved in?

The only way WKT will be able to get out of the Credit Card interest rate will be to pay Gemcorp out for the interest over the 3-year loan term.

Or if Gemcorp thought this project was such a good one as you allude to, Gemcorp would be offering a lower interest rate (9.5% like the African peer) with a higher free margin from the mine.

Anyway, Do you think WKT will receive drawdown tomorrow, or do you expect WKT to miss another timeline?