Interview with David Flanagan at the RIU Explorers Conference last week, page-9

You do make it sound like projects in Africa never achieve finance. That doesn't seem to be the case:

• USD $200M https://www.worldfertilizer.com/pot...-mandate-executed-for-colluli-potash-project/
• USD $5M debt + USD $40M Loan Notes http://www.graphexmining.com.au/wp-content/uploads/2018/10/0200.pdf

They certainly aren't looking for USD $200M. It's in the realms of possibility.

Some of the banks that operate in this space:

• Nedbank https://www.nedbank.co.za/content/nedbank/desktop/gt/en/corporates/financing/miing-finance.html
• RMB https://www.rmb.co.za/solution/resource-finance
• Standard Bank https://corporateandinvestment.standardbank.com/CIB/Products/Financing/Debt-primary-markets
• KFW-IPEX https://www.kfw-ipex-bank.de/Produkte-und-Services/Project-finance/

The RCF deal was rushed together because they didn't get the equity options in the money. It meant they had to source a bigger funding deal via RCF in a fairly short timeframe. That left them exposed.

They have been working for almost 8 months on the new funding solution. This type of deal typically takes 6-12 months.