Santoos "anyone who think the deal is not done and dusted is living in illusions!
it is a ASX waivers and the shareholders approvals they are required just like any other similar deal. these are the regulations"
Far from a done deal. It's is only the $500K that is subject to shareholders approval,
If the conditions subsequent for Tranche A are not satisfied within 8 weeks the initial US$0.5m advance will become due and repayable.
and this has to be repaid if Tranche A no. 2 is not met. You might want to re read.
Tranche A - an initial advance of US$0.5m (already received by the Company) and subject to a number of conditions subsequent including shareholder approval and ASX waivers in respect to the Transaction.
Bigbills conditions
Tranche A - a second advance of US$5.5m, that is forecast by the Company to be drawn down later this Quarter, and upon satisfaction of a number of conditions precedent and final sign off by Noble and including, amongst other things, execution of documentation in respect to the transportation and export of manganese ore from the Company’s Projects; and
No more BS now. Noble want results before $5.5 is advanced.
(Yes I am aware I just wasted my time. lol)
KAB Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held