PEA or PFSI am confused. Q.H speaks about PEA. Sprott speaks from PFS.
in usually common terminology there are two completely different scoping studies
Ex sedar 17.12 Financials
Pursuant to the terms of the Credit Facility, the Company may borrow up to USD $60,000,000 in two tranches, with the first USD $35,000,000 available immediately and the remaining USD $25,000,000 available to be drawn until March 31, 2021, at Novo’s sole discretion,
upon delivery of a pre-feasibility study acceptable to Sprott on the Company’s Beatons Creek gold project and the satisfaction of certain other conditions (the “Sprott Tranche 2 Conditions”). Interest will accrue on the outstanding principal amount of the Credit Facility at a rate of 8% plus the greater of (i) US three-month LIBOR and (ii) 1.00% per annum. All interest is payable in cash on a monthly basis. In addition, principal is payable commencing on December 31, 2022 and quarterly thereafter until September 4, 2024 in eight equal instalments.
The Credit Facility matures on September 4, 2024.
peter