Well, it appears a few of us have been seeking some answers. With JJ & Phil on this. Let's face it, funding source is from Sth Africa so having a Sth African Chairman is no doubt a necessary requirement. I do see this appointment as a trigger point for approval confirmation of project funding. Why would you release the wealth of experience that Denis brings if you had no finance deal. The next few weeks in the lead up to the AGM are going to be interesting / defining.
Would be interesting to know which 1 or 2 of the Cosort 1 lenders have dropped out of the deal because of no MOU with Eskom. Are the terms marginally different for having no MOU with Eskom in this alternative package? Am just hopeful that Management as they have done until this point will not have to facilitate any equity raise component in this alternative funding package. With most of the lenders still participating in the alternative option (incl. PIC & IDC), you would anticipate a reasonable quick response from here as processes completed. Hopefully Eskom sort their house out quick smart and we sort out a MOU as domestic sales component are no doubt better for our bottom line.
Sincere all the best to my fellow Long Term Holders - a defining moment in the 'journey' is near.
RES Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
