Cash Position: Emerald’s consolidated cash at 30 September 2021 was approximately A$15.4m with an additional A$17.3m(US$12.5m) of gold bullion on hand.
The Okvau Project finance facility has also provided access to a US$100m Acquisition and Development Facility .
So it would be logical to assume they don't have the money to hand. Instead the facility is being held by Sprott, and drawn down as and when emr need it. That way Sprott could hold the money in an escrow account, keeping any interest earned.
This would ensure the safety of Sprotts money, in what they describe as "high risk".
It would be good to know if the facility had been triggered. This would rank equal to actually having the money here.
Announcement of same must surely be an incentive to investors. So let it happen !
EMR Price at posting:
98.0¢ Sentiment: Buy Disclosure: Held
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