WKT 5.00% 10.5¢ walkabout resources ltd

The absence of tangible progress on a funding deal - apart from...

  1. 4,759 Posts.
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    The absence of tangible progress on a funding deal - apart from a non-binding term sheet - tells a story.
    Are you listening or drinking Koolaid?
    Banks are there to protect their own interests - not advance Australian mining entrepreneurs personal finances.
    Loan conditions are written with that objective - to maximise bank profits and minimise or eliminate risk.
    WKT will not get a loan without a major equity component in the overall funding mix.
    I personally expect any lender to require a 50/50 debt equity split - and maybe even 40/60.
    That being the case, WKT will need to raise a fair chunk of change from shareholders.
    The Tanzanian Government is NOT going to tip in cash.
    So, as a Christmas surprise, you may just get a capital raising.
    It will be a heavy entitlement and thus will most likely be at a big discount.
    I have suggested 1-for-1 at 8c before and still reckon it is about right.
    NLN indeed.
    DDD

 
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