TELSON RESOURCES INC SOHFD

Excellent news, or what?

[MacRellen]

"As per the Company's news release dated June 16, 2020 , the Company has closed its debt settlement with Accendo Banco, S.A. Institucion de Banco Multiple ("Accendo")."
(from the NR of October 15).

I suppose this means the $12M loan from Accendo is now on, and Telson can finally start to complete construction at Tahuehueto. However, the news is buried in an NR about Campo Morado production results, and the market doesn't seem to react at all. Am I missing something?

[Spikearoo1]

Hi...It's not closed yet.  The bank has taken back and provided introductions to other interested parties that have taken back equity to pay off a debt that TSN had with Trafugo (can't spell) so that Trafugo would release its claim on TSN assets.  Those assets are now going to be moved into a trust as security for the loans that Accendo will provide.  This is all in process

[Spikearoo1]

Here's some more info... https://www.youtube.com/watch?v=HnZPzk5J70k&feature=youtu.be

[MacRellen]

That video provided some clarification, thanks for the link. Seems you're right that the Accendo financing is not a done deal yet. Ralph says in the video that the Trust as per the agreement with Tahuehueto needs to be in place before Accendo can provide the $12M loan. And he expects this to happen in the next several days. However, the debt settlement was just an advance, to settle debt owed

[MacRellen]

To clarify: June 30, 2021 is sort of the final deadline. Financing for the start-up of Tahuehueto will probably need to be in place a lot sooner than that. The agreement with Trafigura calls for Telson to try finding potential buyers for their assets, and that includes signing at least 3 letters of intent by the end of 2020, and 3 binding offers by March 31, 2021.

[Spikearoo1]

Well said. They better get their act together then.  Enough farting around and let's get this moving forward for all shareholders.  

[jg75123]

he is just light stepping, its a done deal. im sure he has been told to be quite from lawyers untils it is signed sealed and delivered. but Acendo is in big with them and they will profit the most once this mine is built. its done. plus the silver stream will bring in alot of extra cash. i would consider this a fully funded project with first gold pour around March 2021. at that point TSN will be