In the past 6-month HTL has engaged many different entities or individuals who are interested in investing in the company for the development of our mineral sand project known as Wateranga Project. We really appreciate your interest and we are glad to see that we are just a few steps away from finalizing the deal with some of the investors.
The ilmenite market has gained and maintained a strong growth momentum in the last few years, and signs from the market shows great potential to stay strong in the following years. Therefore, from the vision of the board of the company, finalizing financing of the project and initiate the development of the project is our first priority. To achieve this goal, we would like to make following statement to our investors about our expectation from you.
- HTL had experience of confirmed investors that could not proceed because they and their fund are from overseas. The reason behind it is complicated and we never close door to foreign investors because of it, however it is preferred that the investors and their fund will be onshore.
- To establish a timeline of the project that we can follow, we expect all interested investors can provide a timetable to finalise their investment. We understand there will be many due-diligence works involved before entering investment agreement, and we hope both parties could cooperate in a positive way by following pre-set timeline.
- To server the same purpose as mentioned above, we also expect interested investors to provide proof of funds when expressing intention of investment.
The board of HTL is looking forward to hearing from interested parties soon and we will do our best to stay open and transparent to our potential investors.