SBM 2.33% $2.52 st barbara limited

st barbara convertible note redeemed, page-2

  1. 3,800 Posts.
    Its pretty curious stuff Anna.

    I dont think SBM are being very transparent about what the funds are being used for.

    Its seems to suggest that they need extra reserves on the underground project below the pit to justify financing for the whole project. yes?

    I do know there was a small amount of underground reserves included in the Paulsens feasibility. It would appear that 1) this part of the reserves is poorly drilled and 2) it is seen by the banks as being important to the project to the extent that finance is dependent on it?

    I am postulating only on what it means. The SBM board have signed off on the project go ahead I believe, however I am not sure if full financing has been achieved.

    Does this announcement suggest the project is delayed until the drilling is complete? And what if the drilling is not that successful?

    I dont hold

    acturtle


 
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