Great RNS10 Jun 2019 08:03
Not even had the Bankable but looks like financing the project is not going to be an issue
Hayden Locke, CEO of Emmerson, commented: "To be approached by a major commercial bank with an early indication of debt financing capacity of such significant size, despite using very low potash price assumptions, is a huge endorsement of the economic strength of the Project.
"The Scoping Study, which was delivered in November 2018, highlighted Khemisset's industry leading capital intensity, but also showed that, even in the downside price scenarios, the Project exhibited very robust cashflow generation. The Board and Management believed this would underpin a significant debt financing package from credible institutions, a view that has been strongly endorsed by this indicative proposal.
"We continue to engage in early stage discussions with a number of significant strategic and financing partners with the capacity to provide both debt and equity for Khemisset Project, and the indication of significant debt support will enhance these discussions.
"We will continue to update our investors on the various operational and corporate activities we have underway as Emmerson continues to scale up the development of this exceptional project."