Waiting waiting waiting for Sangdong, page-7

OK, firstly, forgive me for being a mad dog. Just my nature to defend.

So, last question first....which is easy to answer :-
The financing loan "is" done for the $75 mil on the main initial project,.
Lewis Black chose to use money profits from the other mines to fund the the Sangdong mine development, river and road build, on site office/lab, accommodation, ESG and pay deposits to Metso/Outotec for large long term machinery items.
$23 mil to date.
When the 30% deposit was made to Metso the price of these items were locked in and inflation proof.
Smart so far .....huh ?

The other reason for this was and is, to only ask for the drawdown when is is actually needed.
At the moment it is not, so the Lewis Black thinking is to hold drawdown off until it is really needed.
He can do it at any time he wishes now.
ie :- No point in starting the clock ticking for repayments before you are ready......... Smart again, huh ?

The 15 year Plansee/GTP offtake deal with a guaranteed floor price of $235 is only what others could dream of.
So we have a $75 mil loan for the main project, and now we have a MOU from the South Korean Govt./LG/Samsung to expand into Nano Tungsten products. the Kfw lending bank has issued a LOI for a further $50 mil to do this.
Is this a bad deal ? And if so, why would this giant bank back up Almonty ???

CAPEX ?
I'm not to sure on this, but the way I understand it is that if a mine has a high Capex and short mine life, it spells doom.
If a mine has a high Capex and a 90+ year life span, all that is diluted into almost nothing and the only thing to uselessly think about is Opex..
which is useless for this project.

The first slide-4th point FINANCING SECURED.
At the 20 minute mark there is a chart on Capex, with explanations.
The expenditure then was $17 mil, now $23 mil without drawdowns.
Please read, listen and digest before you have a come-back.
It is a 2022 Feb presentation but the recent NR's have shown us that the words ring true.