Chuck I have to say that I remain very cautious of the ANZ funding facility. It clearly states funding to be supported by a MINIMUM CASH BALANCE by the company. Can anyone tell me what that number is? Seems to me that they will have to be close to all their projected targets on trial mining and there probably isn't much fat in the system for any cost blowouts.
If targets don't come up to expectation or we have an unforeseen budget blowout then ANZ can quite rightly walk away.
I am not seeing anything as done and dusted just yet although I remain hopeful.
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