Hate to say it but i told you so, about 9 months ago that this facility would not be drawn down on. everything about it was just wrong, and the BS from WKT that it was locked in, and their failure to disclose the true terms of the SBLC, that was totally uncommercial and made the facility impossible and pointless.
I wonder how much WKT paid CRDB in fees.
And to those that are going on about how this will now enable WKT to get debt funding from other sources, you need to consider that as the biggest bank in Tanzania didnt have enough confidence to lend to a Tanzanian mining project, then what chance has WKT realistically got of getting mine financing from another Tz bank or a foreign bank. not much i reckon. But always happy to be proved wrong.
Hate to say it but i told you so, about 9 months ago that this...
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