AHQ 0.00% 1.3¢ allegiance coal limited

General Discussion, page-494

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    Not sure what you are asking regarding financing, but I can explain the sequence that needs to occur.

    Firstly before Collins Street release their security interest in the mines they will need to be paid in full plus the 2.5% penalty fee + the monthly interest up-to settlement. This was always going to take a couple of months for this to occur as all document and releases and bank transfers must occur at the same time. If at any time Marco pull out ( I doubt they would) then Collins street original deal would stand. There is no motivation for Collins Street to do this as quickly as possible as they receive monthly interest . This is why I have been saying that many pieces need to occur to fund the new equipment and refurbishing the broken kit. Collins street report quarterly to its unit holders in the Collins Street CN fund, therefore there was no chance that this transaction would be settled before end of Sept I would assume, as this is a new fund ( sept up in May this year) and they would want to show a great quarter of interest income for the fund. Then next quarter they can show the 2.5% exit fee + say 1 months interest.
    In a market that is being smashed they will look like the golden Childs as they have preserved capital and made a very nice return in a couple quarters being invested.

    No sure that it answers your question but there will be announcement once the cash settles as this would be an ASX requirement. I am hoping in October.

    Last edited by 87 Crash: 24/09/22
 
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