Hi All, with the quarterly updates being due shortly I was wondering is it time we were given a detailed update on what is happening with SINOMA finance rather than the somewhat vague statements that negotiations are continuing that we have been getting.
So was wondering what people's thoughts are on what sort of information we need to make an informed decision. For example the term sheet was only for 150m,obviously now woefully inadequate for our total capex requirement as per blowout in the BFS, are they trying to negotiating an increase, what exactly Have they been negotiating for the last 6 months or so, what's still to be negotiated and how much longer will it take. How much longer are we as a company prepared to continue to negotiate and at what point in time do we say the negotiations have stalled or unlikely to produce a satisfactory outcome and thus should inform the market of such failed negotiations.
At the moment I feel like I don't know if the company is trying to get Chinese finance over the line, trying to get Western finance or trying for some combination of the two. Given the delays re finance from our initial timeline I think this is an issue the company should be addressing in detail.
Then off course, are there any flow on implications to our "binding" off take agreement with SINOMA or are they all still "binding" for want of a better word.
Thanks
MNS Price at posting:
52.0¢ Sentiment: None Disclosure: Held