There are some question marks here.
There is no mention that OCP paid off the St George loan. It looks like some of this debt has been written off by the bank.
It says that OCP has lent $1.8M for 2 years which needs to be amortised to $720K- this is a rate of $45K paid down every month.
The interest rate is 12.25%
It also says for providing the loan they have been issued 50M shares ($1M worth at 2c).
If St George have written off the loan or a good chunk of it and OCP have lent on the above terms it looks like the company was very close to falling over.
Some clarity from the company would be worthwhile
There are some question marks here.There is no mention that OCP...
Add to My Watchlist
What is My Watchlist?
