Letter Of Comfort29 Sep 2017 16:21
The Company has received a letter of financial comfort from its major shareholder that amounts owing to him, but not due for payment until 31 March 2018 of $1,742,964, will not be called for repayment until such time as the Company is in a financial position to do so.
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Whoopee doo, so we might not have the money in place by 31st March 2018 to pay the feller back.Good of him to extend it though at 10% per annum.No cash for big Nat means no start of mine build by then. Obviously there is reticence for peeps to speak up today but I think they should.That was the report we have been waiting for.Planning permission is a dead cert. cash to build maybe not.