"Can't look at the annualized rate. This isn't a home loan with CBA"
Surely that's a troll :)
You don't think the lenders did their figures? You seriously think the initial loan evaporates once it repaid? (that it just electronically exists) You seriously don't think didn't do worst case scenarios? You think the lenders don't have debt/equity considerations?
If AWD isn't annualizing,....I'd bet the lenders are!
Would you like to borrow some money off me :) Ill pluck a fee figure out of the air....we wont look at the annualized REAL costs it will cost you, and you have to provide security against the amount.
Forget the $75,000 for a second...
Why are we even in this position? Far more important moving forward I'd say...but not forgetting.
There is three big pictures here....
1. AWD's lead up to drilling and finance raising skills/capabilities and performance. (each persons opinion) 2. Whether there is production capable gas in the hole. (good indicated, but not guaranteed, like the loan) 3. Can we get that gas out....FIRST ATTEMPT, without delay with no issues? (Know one knows yet)
I'm all for SP appreciation as I keep saying...but the reality is we got screwed to the wall.....When I don't think we needed to with better foresight, knowledge or requirements and project management.
If you bother to look back at one of my phone call posts last week....you will see, way before this....I asked about contingency fund planning for both loans....sure as hell glad I did :)....and I posted it for all to consider...so Im not on a downer, just being thorough and fair.
I do think they have under estimated the money needed though...20 million? Not confident it will be enough....unless POV 2 doesn't drill until 2016.....but to be fair, that's just my take at the moment, but does anticipate success at POV105.
My last post on this topic....we differ in view...and that's what we are here for....agree/disagree & discuss.
AWD Price at posting:
0.6¢ Sentiment: None Disclosure: Held
