if they received any material communication from the banks that boards have approved the term sheets but paperwork needs signatories which will require a day or two. They would need to do a TH until the formal paperwork is completed and a release can be made to avoid any insider trading while this is getting signed up.
The other thing that we need to remember is in parallel with the financial institutions term sheets, BKT has mandated Macquirie to find other financing packages through partnerships or JVs at the project level. If this is in play, I suspect it won’t be as clean cut as the banks term sheets and might take a few days while final negotiations are concluded and binding term sheets executed.
To be honest, I would love it if it’s scenario 2 because that will solve for debt and equity in one go….fingers crossed
GLTAH
BKT Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
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