International Tungsten Services Loan In 2014, the Company provided an unsecured loan of US$620,000 to International Tungsten Services Limited (“ITS”). The loan facility was provided to ITS for working capital under a Heads of Agreement for the Company to acquire ITS’ advanced tungsten project in Korea, however the Company terminated the Heads of Agreement in January 2015. Under the terms of the loan facility, the aggregate loan balance of US$620,000 became due and payable on 26 December 2015. ITS has advised the Company that they are continuing to experience financial difficulties and do not expect to be able to make repayment in the near term.
Any of you guys invested in BKY, tread very carefully.
LRL Price at posting:
1.2¢ Sentiment: None Disclosure: Held
