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Tuesday, June 11, 2024 10:15:51 AM
Can you say if the drilling and new engineering exim wants is because of the railveyor concept being introduced? NO.
Were you surprised they asked this far into the process? MOST COMMERCIAL BANKS ARE FINE WITH LENDING AGAINST PROBABLE RESERVES, SUCH AS WE HAVE ESTABLISHED IN THE PROJECT. EXIM’S REQUEST THAT WE UPGRADE A PORTION OF OUR PROBABLE RESERVES TO PROVEN RESERVES IS AN EXAMPLE OF THE VARIOUS TWISTS AND TURNS THAT ARE RELATIVELY COMMON IN DEBT FINANCING NEGOTIATIONS OF THIS MAGNITUDE. WE CAN ACCOMPLISH THIS WHILE KEEPING THE PROCESS MOVING FORWARD.
How much do you estimate this work will cost? WE WILL RELEASE THAT INFORMATION ONCE WE HAVE FIRM BIDS AND ESTIMATES OF THE WORK REQUIRED.
What is the status of the smaller loan for the feasibility study from EXIM? Do they need more information and can you approximate a timeline for it? IT IS BEING PROCESSED NOW BY EXIM, BUT I AM UNABLE AT THIS POINT TO PROVIDE A TIMELINE.
Was the 9 months Scott mentioned during the railveyor presentation the timeline to get exim what they need or was the 9 months for the completed new feasibility study? THE LATTER.
Does Stellantis need this info too? NO. What do they need to see before a deal is done? NEGOTIATIONS ARE ONGOING.
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