Correction To Previous Post..."...It appears that because of Covid and the related unanticipated inflationary pressures brought to bear upon the company, the interest costs of borrowing additional bank funds for the development costs at the SG mine, then became an unacceptable amount.."
Abcourt appears to have only borrowed the first tranche of the 6.5 million dollar loan because they couldn't afford to repay more.
Conditions do change, for better or worse!
Hopefully, Covid at Abcourt is mostly over. And if the company's financials do improve, perhaps when the SG mine becomes fully operational, then the rest of the loan many then be accessed by the company or renegotiated for better terms.
All the best! Java