The conditions are really quite basic to complete.
They pretty much just need to:
- hire an auditor to oversee construction.
- hire a contractor to run the mine post-construction (powerchina has already offered to do this post-construction).
- hire a management team to look aver the construction process.
- complete Early Works
- etc...
All basic stuff that IMO is already well underway.
Also, the non-binding aspect is not of concern IMO. I believe the intent of financier (OWI-RAMS) is real and certainly the returns on investment are attractive for the financier (some very good margins on investment are detailed in the Term Sheet).
OWI has been in the picture and involved in the process for quite some time now. They have been named in previous announcements many times already, and i have posted about them in this thread a few times too (https://owipartners.com/).
Tonight in AGM, among other things, we are voting to allow the Director of KP2 and the Board of KP2 to buy more shares in KP2. So it would seem that "those in the know" are not worried about the non-binding aspect of the finance or the conditions attached to the finance either.
KP2 shares are super cheap at the moment IMO.
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