but Nucharee offered heaps better terms…12% interest and no hold over the mine …
with this loan from Nerabi, KCN has handed over the mine as collateral, should they fail to pay back the loan or perhaps even fail to make interest payments on time…and miningnut says the annual interest charge is 13.15%.
was the Taurus bridging loan that bad? Everyone thought the Taurus loan was loan-sharky, but it seems to be every loan KCN gets is worse than the previous one.
Part of A+ management is being able to win a good loan, not just get any loan.
Ann: Kingsgate Financing Update, page-43
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