Guru can't grasp simple things. The NR clearly states they have bridged a gap in the financing that existed and that the overall budget is on target and on time for a startup middle of next year. They annouce an extension from $80 to $90 million on the loan facility with Maquarie but somehow he thinks that they are pulling out...waht a feeble confused little mind.
This increase in the Project Loan Facility is to cover off a previous funding gap that existed on the Project. With this increase, the Corporation is funded for the construction and development of the Project. To date in 2012 the Corporation has spent approximately US$40 million of its own equity and has committed an additional US$35 million to the Project from cash it has on hand. The overall initial CAPEX budget for 2012/2013 for the Project currently remains the same at approximately US$160 Million.