oil refinery acquisition and funding, page-88

Out of interest, anyone here know the company/director who owns/is building the refinery presently.

The $150million has not been approved as yet. Im stunned that principle and interest will not be payable until cash flow from the refinery is realised.

I guess thats a very big risk to carry by the debt funders. If anything goes wrong with the refinery/if shipping mishaps occur - if it simply becomes lost - they have nada/zilch (except 750 million CVI shares at 20c)

What pecentage of the $150million was taken by the West African banks? Obviously Pensador will fund the other $170millon.

I guess the other question is if they are funding only 47% of the refinery cost why has MS allowed this to be secured by the refinery itself - even though CVI don't own 100% of it. Hence why I asked the very first question above - who currently owns the refinery since theyre about to get $150million.

Cheers,
The Sparkler