Debt Finance in Dec-2012 Oct 2020 09:11
2p by x-mas or 1.44p by x-mas... debt finance by Dec-20.... don't know whether to laugh or cry... Production by Jul-20 was 31-Jul-20.. Debt finance by Dec-20 = 31-Dec-20? Another 2.5 months to go, worst case scenario.. While debt finance is good, but the time it has taken or taking - won't be as good... well beggars can't be choosers..
Vast Resources plc, the AIM-listed mining company, is pleased to update
the market on progress on the asset backed debt financing process linked
to its Baita Plai Polymetallic Mine ("Baita Plai") in Romania.
Following the previous announcement made on 10 September 2020 regarding
progress on the debt financing process with an international banking
institution ("the Bank"), the Company would like to inform the market on
an indicative timeline to the conclusion of the debt finance facility.
Independent consultants have now been engaged by the Bank and subject to
the satisfactory finalisation of technical, environmental & legal due
diligence the Company and the Bank are targeting the finalisation of a
Binding Term Sheet by the end of November with final approval targeted
in December.