Ok - finance sorted and gives a green light to focus on growing the business - great news
that's the financing sorted - Up to $35m for up to 3 years and it
- provides working capital to fire up at pace and continue to find exploration and drilling
- eliminates the going concern issue with current liabilities exceeding current assets with its long tenor
- is expensive @ 12% pa with warrants exercisable by lender at $2.07
- which in itself if very bullish on the SP
-the rate is presumably the going rate as they have been talking to a range of banks and picked this one
Onwards and upwards !
wazz
Ann: Kingsgate Financing Update, page-6
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