I haven’t been keeping up with PLS threads but if this has not already been posted I thought it might be useful information - re Ganfeng organising a big line of credit a while back.
(First posted(by me anyway ) today over at Altura)
Cheers
GANFENG finance preapprovals for a spend of over $1.5 billion?
March 8, 2019 :
https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0307/ltn20190307831.pdf
..”At the 29th meeting of the fourth session of the board of directors of Ganfeng Lithium ....... held on March 7, 2019, the Resolution ..........In order to meet the development, production and operational needs of the Company and its wholly-owned subsidiaries, ........... were approved to apply to the following cooperative banks for a comprehensive credit line of RMB7,500 million in total, of which a total of RMB4,800 million will be guaranteed by way of joint liability guarantees provided by the Company and its wholly-owned subsidiaries on a reciprocal basis. ....”
Google says RMB 4,800 million is AU$996,816,000
And RMB 7,500 million is AU$1,557,392,497
Good News & Bad News, page-96
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