RE: Conversions16 Apr 2018 08:54
Rinehart’s PR minder - former pollie Sophie Mirabella - took great umbrage when CBD mentioned recently that she was a financial backer of the potential potash miner as it seeks a financial hand from the British government.
As she pointed out, quite correctly it appears, that Rinehart has not actually poured $US300 million into the coffers of the North Yorkshire miner. Not yet.
“HPPL has a commitment to investment when specific milestones are reached,” she said.
CBD asked when these milestones would be reach, but received no reply.
Our understanding was that the Rinehart funding would be drawn down when the company completed its stage one funding - which was finished months after the announcement in 2016.
Interestingly, there were already rumours out of London that Rinehart might be reluctant to pay up any money to Sirius despite all the press releases.