Nothing will happen until the complete financing package is signed on the dotted line. That doesn't mean the various financing elements will occur simultaneously, but until everything must be signed and committed. We won't see any financing elements move forward. Why would you do that when you don't have all the final details of debt? I certainly don't want to see the company issue more equity financing than they need to and that's one of the risks of just going ahead with financing on the equity side (IFC/Liberty) without having all of the debt sorted out...

The thing about the development banks is that they need to ratify financing deals. These are not commercial banks where they just book the boardroom next week Monday, bring the needed folks together in a room and approve a deal. The stakeholders in these development banks come from all across Africa so they only meet once in a while. This is probably why the financing timeline is anywhere from Q2 to Q4 - because if the Q2 ADB meeting for whatever reason doesn't get around to ratifying the funding then there probably won't be another opportunity to do so until Q4.

BNP Paribas is handling the financing. This includes all the legal and regulatory paperwork and matching lenders to debtors. I'm guessing that potential "$100 million" loan (not from development banks) is coming from BNP Paribas... if that's true and if that loan comes through that means there will be $100 million less equity dilution and they were worth whatever we're paying them.

I really wish they would stop wasting their time on Stockhouse and having Richard Kelteras write paid placement articles on the Financial Post. Complete waste of time. If he is in fact a respected industry analyst (debatable) then he must have plenty of buy-side industry contacts. Those are the people he needs to convince to invest in this company. Of course, Stockhouse advertising might be cheap so it's just part of a multi-faceted strategy to get exposure... but here's the bottom line - NOT WORKING AND FAILING MISERABLY. It might be time for a new VP of Corporate Development.