Premier African Minerals - Re: PREM Stream Log - For those confused; The bridge...

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Re: PREM Stream Log
09:16 09/04/2015
Cornishknocker
0 replies 0 0

For those confused; The bridge facility is the $250,000 announced today, that is repayable to George on completion of the main financing (So probably in the next couple ot weeks). The larger loan ($766k) will be repaid to George after ALL OTHER DEBT has been paid off. The terms that George has offered the loan on are great at what amounts to 3.5% - A mining project would never get senior debt financing at that rate, let alone a bridging loan! Finally George has the option to convert those loans into shares.

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