Hi R08If you take away the optional US$5mil from Gemcorp, you...

Hi R08

If you take away the optional US$5mil from Gemcorp, you could consider WKT is already in default of that requirement, US$20mil requires US$4.2mil - $6.2mil AUD, yet WKT only has $4.2mil AUD as of the end of March. Then you also have the capitialised interest of $467k for April.

WKT needs US$4mil in funding from the Tanzania banks or a CR to top up the company's funds. although there is no CAPEX blowout, the interest charges on the Gemcorp loan is quickly eating up WKT limited funds.

Anyway, I find it interesting that the pump crew and the ASX announcement neglect to mention the Gemcrop loan facility conditions of having 2 QTR of cash at all times to meet the loan repayments.



@Gammat - Yes it would pay if you read the announcements. It would save you from giving false and misleading information to HC readers.