RE:RE:RE:RE:RE:Re re loan termsRight, my point is that the threshold for money not being spent on that loan is $19M, so the way I understand it, OYL needs to spend $16M before that 2% fee kicks in. Not a huge deal, but there is a reason they put it in there.
They would know what they need for Wei-1, or other immediate expenses. If only $16M at 33% share, that means total expense is $48M. We know Wei-1 itself is more than that. Then, the loan extends to September 2023 now. The inference is that the money has got to come from another source, not just a FEC loan - especially with all upcoming.
Initially speaking, assume they draw the entire $35M, which is possible after Kawa. At 33% share, the total cost would be ~$106M.
All being said, the lab results are still coming in. I don't think they know whether they're going Wei-1 alone. I could be wrong, be glad to know what others think.