Funding options solidifying - Current cash is $27m and ZYL will have to make a $13m payment for its stake in Mbila in May 2012. It is also planning to begin construction by the end of 2012 for which it will need funding of approximately $37m. ZYL is reporting that customers are so keen to replace expensive imports that several have offered to provide pre-delivery funding to develop the project in order to secure offtake. ZYL is also exploring various debt funding options, having received EoIs from several South African banks and development agencies. It has stated that debt funding commitments are possible as soon as the middle of 2012.
Also if anyone knows, who owns the rest of Mbila?
HWK Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held