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

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