ADY investors,
i have just spoken to Maria, to clarify some things in regards to the Shougang SBLC. The negotiations have been approved BOTH sides, i repeat, BOTH sides. Small negotiations with the bank (Satander) are all that is required to push this deal through, and this is in regards to repayment as it is not quite yet in ADY's favour and its not dealing with security to obtain the loan.
PDW Maria ADY are expecting it to go through but the money will be received AFTER 30 September. This is why 25m is being raised with Credit Suisse. IMO i expect that when ADY have the next shipment come in, Satander will place debt covenenants on this amount. Until then, dont expect anything signed.
DYOR
this should be remembered, page-24
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