this condition regarding the funding by shenge has been waived is regarding this offtake agreement going to vote prior a funding solution which was originally part of the condition of the offtake , its waived as the FID has been pushed out, going off the rest of the announcements details preceding this paragraph - management are still in discussions as to the funding arrangements with shenghe and also provided a flow graph as to its structure - seems very bullish towards this outcome.
as a note if they go the loan route through the institutes already interested , then a binding offtake agreement would be in all probability required by the loan institutes, so hence this offtake needs to pass for finance in either way of which the company obtains funding.
will add few more points tomorrow in another post with more time.
PEK Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
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