Hi Pick I am not sure what you mean? The Molopo loan was entered into in May 2013 for R50 million which is currently in dispute as Molopo want it paid now as they believe Renergen have failed some of the terms. Renergen deny this and have chosen to take it to court which could be a 4 to 5 year process before being heard. I do not understand how this loan is included as part of the $150m requirement (ie NASDAQ listing) to satisfy getting the DFC loan for Phase 2.
I agree that it seems strange that REN/RLT have not announced who the $10 million loan has come from or the fact an additional $10/$20 million could also become available in the near future. I would be guessing that the majority of these funds will be used for additional wells and tie ins for Phase 1C.
RLT Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
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