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PEN 1.8¢

questions

  1. Autosime

    11,238 posts.

    I know one should ask these questions before investing but I ma doing some research to see whether I continue to build my position in PEN

    a couple of questions
    I note PEN has a sales agrrrment with a US utility valued at 80m . Do we know the terms of that agreement, eg U price, quantity that forms part of contract

    outside the blackrock funds, were will the funds to construct the mine be coming from?

    sorry folks, I am hoping somebody can assist

  2. frogga

    1,537 posts.

    This should help:

    http://www.pel.net.au/images/peninsul---eiquahkeec.pdf

  3. buc

    4,018 posts.

    Happy to help Autosime


    Lance Project Funding

    Pre-Licence Construction Funding

    • $22m in senior secured notes from BlackRock for pre-licence construction

    • First drawdown occurred in October 2013

    • Notes have a coupon of 11% Debt

    • Approx. $50-60m in senior debt planned

    • Discussions on senior secured debt facility underway with shortlisted banks:

    – Behre Dolbear (USA) has completed technical Due Diligence for banks

    – Expected completion in Q1 2014

    • Secondary debt discussion with 3 financial groups - Note BlackRock has first right of refusal on further notes Equity


    • On debt closure and final permitting, planned rights issue for $20-30m to existing shareholders

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