re: Ann: Financing Documentation Finalised fo...
Hi Guys
I for one am very impressed with this outcome. Funds are in place and I do know that the loan conditions are not too much to worry about.
The previous cause for concern for BJ was that Mac Bank lawyers had stuffed around so badly with this that there was now a time delay between when EVG's cash would run out and when he could draw down on the Mac Bank money - thus putting LL into a 1 or 2 month holding phase.
This was what my discussions with BJ were about. Basically I was offering bridging funds - at suitable terms to me of course :)
However, as I can now read by public announcement my terms were not advantageous enough and BJ has stepped up :)
This is for the benefit of all EVG shareholders and holds true to form (eg. when the 0.001c shortfall options were cancelled instead of shared around the insiders).
The one criticism I would have is that the Mac Bank funding should have been put to bed well before this point in time so that this potential cash flow issue never arose.
I for one am holding my shares as the final major project risk has/ is being dealt with and I fully expect a multibagger return in the coming years.
Cheers john
EVG Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
