Mart Resources Inc MAUXF

bxju: does it really mater who is doing the dd?

[gibbonsj]

My understanding is MW is doing an equity financing the banks simply said they believed MW would be successful depending upon market conditions. If it is a bank financing as you believe it is then you have to think they are looking at liabilities tied to cleanup because banks are all about risk avoidance. Production numbers have long been established so that is not what they are focused on in that regard it should be a straight forward calculation.

[wallywill]

The banks that are doing the financing for Midwestern is RMB and FBN Capital. FBN is a subsidiary of RMB. This is a Nigerian bank. They will gladly fund Midwestern as Midwestern is a Nigerian company and is also partially owned by the government.

[gibbonsj]

Prior to entering into the Arrangement Agreement, Mart received separate letters of confidence from each of Rand Merchant Bank ("RMB") and FBN Capital Limited ("FBN Capital") with respect to the proposed financing ("Proposed Financing") addressed to Midwestern (and in the case of the letter from FBN Capital, also addressed to Mart) where RMB and FBN Capital each

[winnipeg65]

They're just underwriters in the syndicate. Rest assured the banks will not fund equity in MW. Coming days should be interesting..