They had an SBLC that was acceptable when they first signed up,...

They had an SBLC that was acceptable when they first signed up, but when it came time to hand the money over they changed the goal posts after WKT had out laid the $12m “deposit”. For whatever reasons they had it has definitely put a bad taste in any other company looking to finance in country which is the intention of the GoT. WKT chose to work with in the interest of the GoT with sourcing as much as possible in country. The SBLC was through a Tanzanian operator as well. Unfortunately CRDB has now caused issues for the GoT intentions going forward.
Gencorp has done their due diligence and found the risk acceptable, with collateral of $20m already spent on the mine construction. The question is why didn’t CRDB find this acceptable at least once the CR had been completed?
I think the GoT should investigate CRDB decisions as it has effected them greatly. If it was a business case decision then fine but if there were more sinister reasons then they should be exposed.