RE:New Press Release - Almonty to Receive 7th and Penultimate 8th Drawdowns from KfW IPEX-Bank for Ongoing Construction of the Sangdong Tungsten MineIf I count the numbers rightly :
Original loan of US$75.1 million minus the US$66.5 million already spent, then add the 7th and 8th drawdown of US$ 10.6 million puts us at US$2 million over budget.
So what...if the bank is happy with that them there are zero problems and the trust is still there.
KfW is hard to please, so I think they are more than impressed with the way Lewis does business, and future loans for other projects should slide though very smoothly.
Will the Moly plant be financed by KfW or a South Korean bank ???
plus who will finance the other projects ???
If it is a SK bank then they only have to look at the dealings that Lewis has made with KfW.