re: Ann: US Fund Investment Allows Completion...
The first 2 paragraphs of the ann tells me we have the green light to proceed....
Funds raised by the loan will enable the Company to satisfy the pre--payment of interest on the €5 million loan facility as announced on 2nd October 2013, which is now available to be drawn immediately.The €5 million loan facility will allow Aleator to repay the AU$500,000 loan, contract the drill rig and move to spud the POV 105 well, and satisfy the cash condition precedent for the Gres Holdings US$20 million loan facility (“Gres Facility”).
The $500,000 loan facility is the final stage of funding required by the Company to access the previously announced Gres Facility, which should allow the Company to complete its other potential growth initiatives and fully fund the Pov 105 well to completion.
Good luck all!!!
AWD Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
