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Cyclone73

1,781 Posts.

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02/06/22

14:46

Post #: 61781899
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Originally posted by Hedged: ↑

I've watched a number of junior mining train wrecks transpire where the companies involved mislead the market with overly optimistic statements and in the end, those that had invested in good faith lost their money. I've also seen those that posted comment warming of issues and each time they were severely ridiculed and insulted. Because of this i guess i've not commented much in the past when i've seen BS, but i've been watching WKT for many years and i have been concerned for some time now about some of the bullish statements made by WKT wrt the CBRD debt, giving the impression that the funding was 100% secured, and that satisfaction of the outstanding CP's just a formality.
Firstly, no bank funding should be considered "secured" until the CP's have been met and the financing is formally "closed" with the bank providing a certificate to that effect.
In the case of WKT, the CRDB finance offer was subject to several CP's that were complex and that were never going to be a gimmee. One of the issues was the LC security and the fact that very little detail was provided on that, was a concern.
WKT may have a great orebody but it takes a lot more than that to get a mine funded, constructed and operating anywhere, let alone Tz.
I wish them all the best and hope they sort out funding and continue to production, but i will be very surprised if they get any money out of CRDB

And i'm not Georgie.

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Fantastic to hear from an expert.

WKT Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
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Last 11.5¢		Change 0.000(0.00%)		Mkt cap ! $80.55M

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Fantastic to hear from an expert.

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