RE: Town hall meet10 Dec 2022 10:50
Proposed bank facility was agreed at a point in time prior to extension of FS. Things change, facility may also. The RNS says the NCM loan was 'expected' to be paid from first drawdown. The banks may permit that, if not indeed already agreed as Mr. Day has indicated. If not, there is a revolving credit facility ( and. cash ) to consider, should they wish to dispose of loan earlier than draw down may permit.
I have no doubt that the bank syndicate is kept well informed by Ggp to ensure arrangements are ongoing, and with only improvement of the asset foreseen there is no reason to anticipate problems with funding - subject of course to final agreement on terms originally given in the commitment letter, or amended as a result of changes to plans.
I have given up trying to guess what NCM may, or may not, be up to, substantially wound up by this board. The asset is there - if there is profit in it it will be mined, and on the basis of what we know there is no point in delaying that profit.