RE: Does it matter if it's late ?6 Aug 2018 15:41
Yes jaf, that is much better.
As i read it, by the end of year two of the loan, we have to pay BR 50% of 13% of $35m, being $2,275,000.
At $350/mtu, i make that a total of 13,000 mtu required to cover the interest, which is 5% of possible output in year two and maybe less than 3% of the combined year one and year two production combined.
If I thought there was ANY risk of not being able to get that production in the first two years, I would invest nothin in WRES. Not one penny.
If I have got figures wrong or missed your point, please let me know.
ATB