RE:RE:RE:RE:RE:RE:RE:RE:RE:NEWS !!! I could be wrong, but IMHO it's actually extremely good news.
According to https://seekingalpha.com/article/3961966-intermap-technologies-rest-story
Quotes:
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Mark Gomes , Contributor
JMY, I gathered additional color this morning. I was told that document negotiations have taken place and that they're just finalizing the political risk insurance with no anticipated issues. The African Trade Insurance Agency has done plenty of them in the DRC, including one for $160M. https://bit.ly/29m6Mxb
Sector: Mining
Insurance Type: Political Risk Insurance
Risks Covered: Expropriation; damage or business interruption caused by war; civil disturbance or political violence; embargo; currency inconvertibility and transfer restriction; export license cancellation; forced abandonment; selective discrimination; and mining agree
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05 Jul 2016, 08:50 PM
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As per the above quotes, IMP is in the process of finalizing political risk insurance.
Insurance is very likely to be provided by https://www.ati-aca.org/index.php/products-and-services/cost. According to this page, you can find the following quotes:
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While it is difficult to determine cost without considering the level of risk of a particular country, typically policies range between 1% and 3.5% of the amount to be insured.
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I am really thinking that they just need the bridge loan to pay the premium of the political risk insurance. Once paid, the deal is closed !! I am sure that Intermap still has some cash left.
$175M x 1% = 1.75M that is about right for the premium. (the bridge loan is $2M)