mashala acquisition to be completed today

From last week's announcement:

Continental has reached agreement with EDF Trading for advance of US$20 million from already documented facility, with US$15 million to be drawn on completion of the Mashala acquisition and balance on satisfaction of certain milestones. Drawdown is expected to occur prior to 31 October 2010.

At the moment, we don't have Mashala as we have not paid for it. So we don't have their mines and nor do we have the 2mtpa. However, in the next few hours we will.

There is one thing that I know for sure, and that is some large institutions like to have ALL risk removed before investing in a company, especially when the risk is attached to a company making decision.

Good luck to all waiting for a much lower buy in price. You'll need it.