I'm guessing from the 'Market Update' announcement that the 'strong interest' from financiers is that the refinancing is a carrot to the Expansion capex. 1st repayment in 2020 is a nice holiday period.
Credit approved means the bank has signed off on it. I get the feeling the ball is in BLK's court. If technical DD is signed off (ie. happy that operations are on track) then slight concern is why Legal DD is taking so long for a Term Sheet ... should be turned around quite quickly.
My inkling is that 15 Nov, representing mid way into the Qtr, presents a perfect opportunity to provide the market with an update. We are all a little pissed that last Qtr's production fell short despite public announcements to the contrary. Credibility needs to be restored.
I agree with a previous poster ... you wonder whether the recent sell off provided a perfect entry point for some entity to position themself in this stock ... particularly if they're affiliated (directly or indirectly) in the financing in some way.
BLK Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
