Unfortunately @Morry the BoD seem to have lost the SHs who regularly post on HC. (There is clearly an amount of HC members who read and don't post and support the BoD.)
Recent events are frustrating and the SP is not where we believe it should be. But I cannot control that and being negative on HC after every Ann by TNG will not help.
My observation is there is far too much scrutiny on every word coming from TNG.
It is a simple TH announcement and cannot really be put any other way.
This is one of many expected steps and announcements TNG will make in the journey to production. We should all stop being negative when a further step is announced. ...for it is a positive step.
In finance terms a Mandate is a commitment from both sides to proceed to a finance solution. It commits the lender to state what the finance offer looks like and should list some, if not all, the conditions to be met to achieve finance. It could even include a commitment fee paid upfront as part of the agreement. I expect the Mandate commits TNG to meeting the conditions of finance which will no doubt include the MMP and right to mine (or whatever it is called).
Why a possible commitment fee? Well it is a necessary step to prevent tire kickers. It means TNG has skin in the game. It could be in the form of a bond. e.g. become part of the finance package on success but is forfeited on failure to achieve finance. Now that would be an important reason to go to a TH.
Enough speculation. I can wait 48 hours to learn more
