Working through key points of the financial settlement: * Vector...

Working through key points of the financial settlement:

* Vector have a loan facility agreement with FT General
* Vector had been depending on FT General for the funds to complete the first tranche of the payment to MGI but FT didn't make the funds available in time.
* Vector had to turn to MEF for funds to complete the 1st tranche payments
* They also raised additional 2.6m to progress immediately to DFS and Decision to Mine stage 1 for 1Mtpa by Q4 2019. DFS commenced.
* MGI have agreed to an extension of time for financial settlement
* VEC are working with other debt and equity solutions for funding to replace the MEF facility

Based on the above I can only assume that management seem certain that the quicker they start getting the gold out of the ground the better and that justifies the short term MEF loan. Also, MGI have received 315.6 million shares at 2.2c. They would not have accepted the payment if they thought the loan conditions would destroy the value of their equity . It wouldn't make sense.