Croc apologies for chiming in here,It is important to note that...

Croc apologies for chiming in here,

It is important to note that securing funding for a mining project is a complex and time-consuming process, especially in the current economic climate. The fact that WKT was pitching five term sheets shows that they have been actively seeking funding for the project. The announcement of a conditional term sheet is a positive development, and while the lender is commencing due diligence, it is not uncommon for interest rates to be set at a later stage in the process.

Regarding WKT's past activities, it is important to consider that seeking funding for a project is an ongoing process that requires a significant amount of time and effort. It is likely that WKT has been actively engaged in this process and that the announcement of the conditional term sheet is a culmination of these efforts.

As for the concerns raised about WKT's ability to cover its corporate costs and existing debts, it is important to note that the company has already secured a bridging loan of AUD 1.6 million, and the conditional term sheet provides for up to USD 25 million in funding. The company's ability to manage its financial obligations will depend on the successful completion of the due diligence process and the eventual funding of the project.

Regarding BMCG's sale of shares, it is important to note that the conditional term sheet provides for conditional backup funding, which may or may not be needed depending on the outcome of the due diligence process. It is not unusual for companies to have backup funding arrangements in place as part of their overall financing strategy.

Sweat

DYOR