Commercial initiatives in support of Abra development – bank...

Commercial initiatives in support of Abra development – bank financingDuring the Quarter, a mining-experienced bank, leading the project financing debt arrangementon behalf of AMPL procured seven submissions from banks in response to AMPL’s proposal on its targeted debt structure / terms and a group of those were short-listed for detailed discussions. An independent technical expert completed a technical due diligence report for use by the short-listed banks, which largely completed due diligence. AMPL continues to be engaged in detailed discussions with the short-listed bank group with a view to finalising credit approvals on a mutually agreed set of terms.

Looks as if single bank vendors lost out to a group arrangement. DD is done, just sign the docs and wire the cash. I can practically smell the re rate.