Crazy value here at MM8. Seems like a bargain project....Just...

Crazy value here at MM8. Seems like a bargain project....

Just doing my DD and hunting for those skeletons the closet before potentially buying in. Can anyone assist with the below query. @chilledpain you seem to be the resident guru here spouting wisdom and knowledge. Can you assist?

Queries are:
What are the conditions of the $4mil loan? can it be paid off at anytime? Or can it only only be repaid at (1) sale of RGP (2) change of control of the company or (3) 120 days after decision to commence development.

A 6% yield on $4mil ain't bad. Especially in this market. Bolong can live off a loan like that and retire in some tropical paradise. Very nice.

With 21.7% ownership, Bolong has little incentive to develop the project? Why not stick with a risk free 6% yield? Mining is too risky.

Interestingly at listing there was no 6% interest???