I have had a look back to try and put some figures on what Ophir has cost, this will be ball park .
OXX current draw down of funds $8m plus funds from the $5m placement so lets say $10m.
The consortium of banks provide 75% of development cost plus 75% of production costs for the first 3 quarters with the three partners to provide the remaining 25 %. That puts the development costs at north of
$80m. $60 million to be paid to the consortium of banks before OXX gets any money and the first tranche of $4m from the convertible loan due in June 2019. The $60m bank loan had a four year term.
Thoughts?
OXX Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
