The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
It’ll be a blended rate, with equity in the mix too, so very hard to distil that down to a fixed (paf) rate/cost of funds..
Probably senior & junior (mezz) debt in there, Senior being secured with a’first’ charge, and therefore less punitive. Junior is expensive.
You’d think they’d want an overall return on investment (ROI) of high single digits possibly, as this is not a vanilla, low risk deal with an established business throwing off recurring revenue.
Whatever it is, with a high gold price and low fixed operating costs, they will accelerate repayment in the early years of production and then it’s all gravy and a decent dividend distribution.
Purely IMHO.. and I’m retired now, and not on point.
Mr Blue Crypto
“Credit approval will be predicated on assumption”
No it won’t.
Credit is a process where risk is identified, understood, managed and mitigated to a point where it is worth lending into.
… and yes, on balance and with similar terms, I would.
This seems legit as 'lead bank' is mentioned.
All 'club' deals (where you have a bank consortium effectively) involve a primary lender, who will take the lead, agree the full facility at credit, and initially provide the full funding.
Thereafter, at an agreed future time (and typically within say 3 months) the lead bank will then "sell down" a pre-agreed % of the total debt piece, to de-risk and bring in the other senior lender. Terms typically identical.
This feels legit.
Simms
Until recently I felt similar.. TK gets sold..
However, the current structure allows for a spread of risk across both ‘jurisdiction and mineral’.
Both countries have the potential for geopolitical instability, and both CU and AU fluctuate fairly dramatically in terms of market value, with different triggers.
So, keeping the two within a portfolio does markedly reduce concentration risk.
Add in the likely dividend payments from production and sticking is better than flipping. I’d say.
Are you living in a vacuum Plumb? “Where do they get their information from?” … sorry?
.. and waiting to enter at 4. something, is slang for I’ve just missed a 600% rise… but each to their own, and there will be a lot of upside from there too…
GL
Agreed.. we are seeing much better, intelligent contributions more recently..
A far more educated read than the Neanderthal “any money in yet” ballox from the idiot brigade
Long may it continue and my thanks to those who bother to research and articulate
That’s actually very well said GT1..
I have been a material investor for 7 years, and it has been a difficult time, putting in mildly.
That said, the upside is quite enormous and I continue to believe that it will happen now.
Credit approval and the subsequent ability to take TK unconditional as a project is bigger than the sum of its parts, because it sets all domino’s in play and this initial funding unlocks and provides surely to many other downstream initiatives.
I will personally take a lot of pleasure from the ride back up from the abyss we have all been on. The capital appreciation will be considerable, but for me its eyes on the prize - the longer term dividends from very meaningful production, across 3+ mines.
Getting away from AIM will be a solid move, as will going public in Saudi… it has been a necessary evil.
The transformation will be significant when it rolls out, of that there is absolutely no doubt.
It’s only Super if you can sell it…
At this rate we’ll all be leaving a load of Kefi shares to the grandkids with a good f luck message..
I had Planned on still being alive to enjoy my own savings, as opposed to gifting them in a much smaller box to the little ones coming through
There is a window now within which management can provide a ‘meaningful’ update to the market, with out giving away sensitivities.
It’s dragging isn’t it… and HAA is more wooly than he needs to be frankly. That is tedious and there’s a touch of arrogance there too.
A progress report to inform and settle the shareholder community is needed, and its fair and right to do so.
if this is going to drag on and on, and on… then some basic courtesy is due.
Ben
I understand your angle and I’ve made one visit to your channel.
Sorry, but there’s nothing novel or enlightening there re content, and a lot of fast-forwarding through your other investments to get there..
For me it’s a waste of time.
The civil war accounts for 2 of the 10..
The bank were supposedly almost ready to sign this off in Dec ‘22 - so how come they still haven’t 10+ months later with the same deal dynamics??
I’ve been here for the 10 years sadly.. and I’m world weary of this absolute buffoon