On the latest IFC development.
RBTL - IFC are not an institution with financial motives.
The IFC's mandate is to help advance projects in jurisdictions that require developmental assistance.
To have been invested in Peak for so long is quite unusual as their mandate is typically 3 years.
As we know, Appian got the IFC invested at the same time they invested in Peak to complete the BFS back in 2015.
The IFC was brought in to help provide security and political surety to the project and help in its advancement.Considering the lack of progress on the licensing front, the IFC would have remained in place only to provide ongoing support to the licensing process.
The fact the IFC are now comfortable enough to begin selling down, because of the appointment of the new President, is an enormous positive and shows their job is done and their involvement is no longer required.
It's often forgotten that the quality of this deposit is evidenced quite simply by the involvement of Appian and the IFC. Organisations like this tend not to back c-grade projects, do they!?
Peak Noise, page-8
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