Re: Nambian Guarantees
Agreed Expenditures are as follows: (now in year 2) 1st Anniversary - 1 million dollars - under negotiation for payment schedule. 1 st 4 years - 6 million dollars Years 5 - 6 - 60 million dollars Years 7 - 8 - 60 million dollars AOS to provide a Guarantee on 10% of the total agreed expenditures = 12.6 million. (Restricted cash) So they have already spent 13 to 14 million dollars and need an additional 6 million for commitments in the next 3 years????? 20 million plus operating expenses mean they already have half the money spent. My guess is no dividend or a very minor one to keep the masses happy.. IMHO