We incurred US$1.5mil in fees and charges last Dec to get a six month loan of US$10mil which equates to an effective interest rate of 30%pa - we've got that down to around 13.15%pa on up to US$35mil(without putting any value on those warrants that are being issued at a premium of 25% to the current price), so I would say that Nebari has increased our credit worthiness by at least 200% in a short period of time.
Ann: Kingsgate Financing Update, page-67
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