I'm quite keen for someone to be able to reconcile this for me...
"Abra Project construction completed on time in December 2022. Project construction expenditure within 1% of budget."
"The facilities include a US$100 million project finance facility (“Facility A”) plus a US$10 million cost overrun facility (“Facility B”). As at 31 December 2022 a total of US$110 million has been drawn under the Taurus Debt Facilities..."
So if the $10M is fully drawn and the total cost overrun was 1%, what, this has suddenly become a $1B project...??? Why is the company paying interest on a facility that there was allegedly no need for?
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