Chanz,
Your comment " Correct me if im wrong - But the company still has a long way to go and have to account for the below - which may still be an inherent risk specific to this loanil
Not really, the bulk of the work has already been done, dotting the i's & crossing the t's is envisaged by late April, and first draw down mid May 2015. It is that close to happening.
The investor has to get their technical peoples heads around it & sign off.
The staged development is ideal for GIP, it relieves the high initial capital outlays originally envisaged at higher output levels (Petra).
That is why I believe the deal makes a lot of sense, and will comfortably get to Stage 1 $7mio. Income then starts to follow, any production hiccups, from a lenders/investors point, are addressed, before injecting a further $28mio to near quadruple output, Stage 2. The potential from Feldspar sales alone here at Stage 2 approximates to $30mio pa and it is the by product of the project.
There is an off-take agreement for the tantalum, the tin goes straight to the spot market.
The one I have always liked was the by product ceramic grade Feldspar, once again, the test work has already been done.
The beauty of this project is that approximately 80% of all milled material is eventually saleable.
Three incomes, Tantalum, Tin, Feldspar, not one.
Anyway, the tantalum off-take agreement, material test work, interest in Feldspar etc. is all well documented in ASX records. Just a lot of reading.
TPG.
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