MOL 0.00% 6.9¢ moly mines limited

Just poking about US-Can posts and have found somewhat slight...

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    Just poking about US-Can posts and have found somewhat slight variations in info that is presented.
    From stockhouse.com search which appears to have excellent display of TMX pricing ,graphs for daily markets.
    Also great research info.

    Anyways one such....

    "Also, Chinese bankers are visiting the site in early March. Another sign that the deal is likely to go through.

    Recent delays have been accommodated by now allowing the transaction to complete as late as 30 April 2010. At completion Hanlong will become the majority shareholder in the Company subscribing for US$140 million in equity which will be used to immediately retire the Trust Company of the West (TCW) Interim Financing Facility. As well Hanlong will provide a US$60 million 10 year shareholder loan.
    The Subscription Agreement requires Hanlong to procure a US$500 million Project Finance Loan Facility (Facility) for the Spinifex Ridge Molybdenum Project by 30 June 2010. Moly Mines obtained shareholder approval in December 2009 to extend this period to 30 September 2010. This extension has now been formally been recognized in the variation letter.
    Only one material condition precedent remains outstanding for completion, that being the approval of the State Administration of Foreign Exchange and this has been delayed by the Chinese New Year holiday. Under the variation letter this is now required to be finalized by 15 March 2010. All other material conditions precedent to completion are confirmed as being met.

    Moly Mines is pleased with the progress made to date with the US$500 million Project Loan Facility. SEVERAL CHINESE FINANCIAL INSTITUTIONS ARE UNDERTAKING ADVANCED DUE DILIGENCE ACTIVITIES WITH SITE VISITS STARTING IN EARLY MARCH. "
    Just put differently to what I read previously -ie several institutions involved.....
    Monday is the 15th March.
 
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