NAIF previously approved an Investment Decision in favour of Thunderbird in 2018 by way of a loan up
to $95 million (https://naif.gov.au/media-releases/west-kimberley-naif-loan-third-to-support-westernaustralia/). As is customary with the NAIF investment process, NAIF and Kimberley Mineral Sands Pty Ltd
(KMS) will now undertake technical, legal and financial due diligence prior to NAIF considering an updated
Investment Decision.
The completion of a strategic assessment does not represent a formal decision to offer or commit finance
by NAIF in favour of Thunderbird or KMS and there is no certainty that any definitive agreement will be
concluded between the parties.
Geez that announcement really doesn't leave you with a warm fuzzy confident feeling based on the above.
Ann: NAIF Completes Thunderbird Strategic Assessment, page-2
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