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nicwix

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18/04/22

11:17

Post #: 60893191
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Originally posted by Red Baron: ↑

"Not quite $3m each is it?"

Don't quite understand what you mean there, the $2.5m each is just the shortfall they need to be able to say it's fully funded. I think they presently say it's substantially funded.

It's all a bit academic anyway, the project has contingency built in, and it could go under or over budget. if it was in Australia I'd say almost certainly over budget, In Africa, most Gold projects seem to come in on or under budget - hopefully our lithium project will be under. That's where good management comes in.
They didn't
The $130m was a negotiated figure for 50% of Goulamina, they topped it up with a $64m loan to make it up to the initial DFS capex of $194m

When the updated DFS came in with a higher capex, Ganfeng agreed to organise the larger loan. Both parties will be responsible for the loan, however Ganfeng will be able to get a loan on far more favourable terms within China, than we'd be able to. In any case the JV should easily be able to pay it off within a year.

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My understanding is Leo will do a small cap raising prior to listing, which should cover any gap. I’m sure FFX shareholders will get a look in.

FFX Price at posting: $1.12 Sentiment: Buy Disclosure: Held
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