Post by
mercurysmith on Jun 28, 2012 3:28am
Bank debt not subject to IMC...
This just means the debt financing will not need an IMC co-signing or guarantee. .Instead, the debt will be secured by equity in the company in default of payment. I still have no doubt the bank isn't advancing any money before IMC confirms the offtake is complete and binding. It does mean that some of the debt financing could potentially become available even before any of the IMC money is advanced. This is good news.
Comment by
masspower on Jun 28, 2012 8:17am
Mining approval was granted in June 2010 by the provincial government...all financing on track and Woulfe Mining TO START Sangdong production in 2013 IS THE BOTTOM LINE! Cheers! masspower