KfW IPEX-Bank UFK Financing Example, page-7

Also per the UFK presentation (http://www.agaportal.de/pdf/dia_ufk/berichte/e_ufk_50jahre.pdf):

"Before the signing of the project and financing contracts,the IMC gives a so-called preliminary approval to the applicant bank. This comprises the binding confirmation from the Federal Government to make a positive decision on the Untied Loan Guarantee applied for, provided that no changes take place to the material and legal position and as long as the project and financing contracts and/or the long-term offtake agreement for raw materials are concluded within a stipulated period and any conditions concerning the project and/or the financing concept are fulfilled.

When the project and financing documentation as well as the long-term offtake agreement – where necessary, after fulfilment of the conditions stipulated – are signed, the Federal Government concludes a guarantee agreement (Untied Loan Guarantee) with the bank or the bank con-sortium which made the application."

The fact that both the company's offtake agreements have already been concluded and have been signed in consultation with KfW bank is further evidence that things are approaching the finish line.

Plus there is a section in the presentation regarding ensuring the project is environmentally & socially sustainable which has already been satisfied due to receiving the mining license & environmental certificate.

Also I just love this part:

"Given a positive indication, the review procedure begins with a formal application and the submission of a draft of the project report and of the loan contract. A fee is charged for this. An inter-ministerial committee (imc) chaired by the Federal Ministry of Economics and Technology (BMWi) subsequently decides on a preliminary approval. Following a positive decision, a guarantee declaration will be handed over later."

So that all important loan contract has been drafted and once KfW receive the UFK cover declaration you would think the company will secure the finance.

Reading this does anyone think that we could receive the finance announcement any day now? I know I do now lol.