AMAL Updated Website, page-18

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unicrumba

3,276 Posts.

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16/12/18

21:20

Post #: 36875813
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Originally posted by Names little ↑

Hi Chez, re "you seem to have forgotten that there is a $20 million undrawn funding package from Tribeca that could only be drawn down post merger if required"

yes that was the second tranche of that $40m debt package.

Given the horrendous terms of that loan I am hoping that they don't draw down the second tranche and instead try to replace it with some form of capital raising, perhaps just to sophisticated investors or maybe a full blown rights issue so that we can all participate to avoid being diluted.

The terms of that loan were ( LIBOR +13% + 4% arrangement fee)

Perhaps they should go the full hog and do a capital raising for $40M, and repay the facility in full early and not draw down the 2nd tranche , still be liable for early redemption fees by the looks of announcement though.

Does the cost of this facility tell us something about the risk that Tribecca (as the lead lender) still see in the project

Anyway here is that Loan announcement for anyone who has forgotten about it, dont forget to scroll down to the bottom for the Annexure, where the costs are all outlined.

https://hotcopper.com.au/threads/an...isting.4459979/?post_id=35873498#.XBXztTFRfIU

I would certainly be willing to take up my rights if they decide to do a raising at say 25c, rather than paying those interests rates.

Thanks

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..."I would certainly be willing to take up my rights if they decide to do a raising at say 25c, rather than paying those interests rates"...

Greetings NL,

I'm sure you would love to get your hands on some .25c AMAL Shares...haha...

Why would any current holder want to raise $40mil at .25c?? Especially now that the merger is all done.

I think its better if MC takes care of our ship and remains the El Capitain, I thought we might be able to offer you a promotion but after your attempt of organizing a mutiny when I mentioned that TAW holders could look forward to an extra 10% AMAL shares...and now this...0.25c

Looking forward to reading the details of the imminent drill campaign announcement.

All IMO

A40 Price at posting: 27.0¢ Sentiment: Buy Disclosure: Held
9 Upvote

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AMAL Updated Website, page-18

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