Almonty Industries Inc T.AII

Plansee / Bank Delay ?

[5ilverlining808]

I'm just wondering if Plansee has to prove to the banks that it can uphold the deal with Almonty to have a 15 year offtake guarantee and all papers in order ?
This seems to be the "hold up" to me, and it is a pitty it didn't go hand in hand with the Almonty deal as one.

As we know this bank does intensive DD, and this Plansee deal is the only thing we need to seal the financing once and for all.
Very interested to see the next NR.

Happy NR. lol

[Mrsprott]

They obviously have cold feet, this should of been wrapped up a long time ago. Wouldn't surprise me if they completely backed out of the deal

[Deschenes]

Perhaps you guys should do some research and look at Plansee Group, who last year recorded around 2.5 Billion euros in sales, and has something like 14,000 employees world wide.  They own a variety of companies held by three different subsidiaries.  I would hope that a company that was smart enough to arrange to have billions in sales, could arrange to be profitable.  This is a

[chrisp6712]

I agree with your assessment. I don't think any of the major players involved in Sangdong or all the entities involved in the loan are delaying the finalization of the loan. It's probably something involving one of Almonty's existing debt facilities that has to give their approval. All other creditors must give their approval since the Sangdong financing will impact Almonty's

[chrisp6712]

Almonty has relied on loans from Unicredit Bank for several years. Most recently, a loan was restructured around 2019 to extend the loan for around $15 million. The terms of the loan could be renewed each year for the next 3 years. Unicredit Bank has reorganized recently and is in the process of restructuring their loan portfolio. I am going to guess that the delay in the Sangdong financing may be

[5ilverlining808]

I think above ground works are ongoing regarless of temp. I have photos of this site in all seasons over a great number of years, and none show more than a slight dusting of snow in Winter (ie no permafrost). The next step after the road and river stage, (now done) was to level and prepare the Process Plant area for :- - Additional drainage underground treches for pipes to ensure clean and waste