So, the RBA increased rates to 3.6% today. I was tidying up the home office (not often) when I found a copy of the 8/3/22 EQR and Sandvik financing arrangement for crushing and screening plant.
This equipment will arrive towards the end of the year and increase production with capacity of 350 tonnes per hour which is 2.5 times current (8/3/22) capacity.
The terms of the agreement were $4.8m with 70% financed (30% deposit from EQR). 48 monthly payments with a FIXED INTEREST RATE of 5.75%.
This is part of the $20m capex.
Looking back, this was a fantastic deal signed by Kevin and board, given the same deal would be 8% to 10% or more today.
So, the RBA increased rates to 3.6% today. I was tidying up the...
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