Platinum have already put to them a $150M financing package, of which we are still awaiting details
As I said, I expect they will continue to soak on market until the Forestry Approval is confirmed, at which point they will move to a binding funding deal and announce T&C's to the market
Therefore the cash balance as at the end of March isn't a concern as I expect Foresty Approvals before then and therefore a binding deal with Platinum
$20M for working capital is completely over the top. If you look at the last tranche of funding, it was extremely commercial
Blumont fronted them $8M for 3 years @ 5% interest - can't complain about or beat that
CKA Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
