“SENIOR DEBT FUNDING PROGRESS
There have been due-diligence activities undertaken in relation to the proposed Senior Debt Facility. These include technical, financial, legal, environmental and marketing due diligence. Since the signing of the Senior Debt Facility Term Sheet, Gemcorp has undertaken a site visit during which the Gemcorp team met with the key contractors and suppliers to Lindi Jumbo. The results of due diligence will be presented to the Gemcorp Investment Committee and form part of the final approval decision process.”
Interesting….have conveniently omitted any reference to a possible May approval plus smacks of a lack of confidence. The dialogue has most definitely shifted comparing this update to those previously released.
Ann: Development progress - Lindi Jumbo project, page-4
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