Speaking only for myself, a SHr in this company,had the borrowed money achieved its aim,I wouldn't consider the interest rates you quoted as excessive.
I refer you to the announcement of 01/07/15
The Company is working closely with CCM to meet the outstanding conditions for this facility and that program is progressing and on schedule.
The key conditions relate to independent technical verifications including of the Company’s current operating production and geological resources and assessment of Valence Industries’ sales contracts
http://www.valenceindustries.com/pdf/2015-07-01-0414112015_07_01_Finance_Facilities_Update.pdf
What happened ,baring in mind one of VXL's directors is closely linked to CCM ?
Raider
I note ausheds hasn't posted for a couple of days,I trust he is okay.
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
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