All gone quiet again...... "1. Continuing to engage with the...

All gone quiet again......

"1. Continuing to engage with the proposed lending syndicate (Syndicate) and more specifically the Lender delaying its credit committee approval processes due to a broad-based internal review of the organisation’s ESG investment criteria; and
2. Subject to due diligence, to structure involvement by a third party as a substitute funder in the Syndicate or as a complementary participant in the Syndicate

The Company has now received a commitment from the Lender referred to in 1 above to table the funding proposal prepared by the Deal Team for credit committee approval and, if secured, final Lender Board approval by the end of October 2018. Consequently, the Board has agreed to prioritise this funding route and dedicate all time and resources to securing a favourable outcome.

Engagement and due diligence planning occurred during August 2018 with the interested third party funder referred to in 2 above. This process continues to be progressed on a basis that considers the priority now agreed to achieving an end of October outcome with the Syndicate."

Just killing time.......So if Funder1 doesn't approve by end of Oct, Funder2 gets the chance to step up. With coal at multi-year highs. Now is a good time to pull the trigger!