Two important points from the quarterly: 1. Funding for the...

Two important points from the quarterly:

1. Funding for the completion of DFS, initial Tranche 1 US$5 million cash payment due to Mongbwalu Goldfields Investments Limited and additional working capital is currently being finalised and is proposed to be provided by a US$20m loan facility from London Gold LLC – this funding will satisfy the funding requirements for the Adidi-Kanga Project through to completion of the DFS

2. Completion of the Adidi-Kanga acquisition is subject to the successful completion of the various conditions precedent, which include an agreed Work Plan for the completion of the Definitive Feasibility Study (“DFS”), Escrow Agreement, Loan Repayment Agreement, Codebition (Co-Debtor) Agreement and the issue of a US$20m Standby Letter of Credit in relation to an existing debt for the Project – to be completed by the end of August 2018 (all currently being advanced)

If we can’t get the funding, the entire Adidi-Kanga deal falls over. The funding arrangement clearly states it’s to used for working capital.

Surely they wouldn’t do a raise after making such a clear statement.

Just my thoughts.