Do I have this right? Is it correct to now assume that the terms of financing are considered doable and that the level of funding will not be excessively dilutionary? That is what they mean by financing being achievable within the companies target for gearing i.e ratio of debt to equity?
Surely this is BIG news. Wasn’t the case 12-18 months ago when we first thought FID was around the corner.
BML explains the change by saying that positive progress with the project has resulted in meaningful progress with financiers. And engagement with financiers has been positive (as opposed to there just being ongoing engagement).
I have to say that delays due to market conditions seem to have resulted in a very thoroughly developed project ahead of financing. Highly economic DFS and mining plan based 83% on reserves. We have even purchased accomodation and the production facilities, locked in offtakes, power supply and port facilities.
Although funding by institutions looks doable I reckon the icing on the cake would be NAÏF or EFA funding as a source of project validation.
H
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Mkt cap ! $43.51M | |||
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