The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Thanks Simon. I have read and re read the RNS. The reason I asked was because it reads a little ambiguous. I wish companies would give some thought on the wording sometimes. I can see a need for further investment after commissioning in q1 2020 but of course the sp would be much higher. I was just wondering if the company has given guarantees that the fund raising will cover the costs until that point.
From their RNS 'The gross proceeds from the Placing will allow the Company to continue towards its stated intention of commissioning the Project during Q1 2020.' Maybe I am looking too deeply into it.
Welcome Leas, the answers you seek are in the most recent RNS and none of us would be able to impartially explain. Go to the source and ignore our noise.
Was looking at this a couple of weeks ago and was tempted to buy in the mid 80s. I currently have 2 EVs and fully understand the increasing demand for battery grade lithium. Could anybody advise me if the raising of funds will cover the initial build and construction cost at Sonora. If so is that guaranteed? I'm sure it has been covered before but would need clarification prior to making an investment.
Thanks in anticipation of a response.
Good post !
I just re-read the placing RNS and this part of the appendix stood out:
'The Placing Shares are being offered to a limited number of specifically invited persons only and will not be offered in such a way as to require any prospectus or other offering document to be published.'
They are not offering this to scalpers and the placing price will not be punitive. Let's see what happens eh.
Yes it is irritating as it hit 90p less than 2 weeks ago. Part of the roller coaster which is AIM and raising money though as most will recognise. Don't forget that it is small PI's who are selling very small amounts and market makers making their corn on the back on uncertainty. Don't forget that this Placing will have been decided on after much discussion with institutions with positive feedback and commitment given. I will be very surprised if the price is not back to mid-70's a short while after the next RNS announcing the completion of the Pacing. Either way I am in for the long haul so will roll with the punches.
But this is shit though. SP getting hammered. Bit of a stitch up really, so wish I’d gone with my convictions yesterday and sold half at least half. Guess that’s what everyone else has done.
There are market makers who will know exactly what is going on with the placing in terms of average price, likely completion and who have acquired the shares. This will influence them in their machinations until we have a formal announcement from the company. For example if it is going well ( probably) they may want to scoop up shares from the weak, perhaps with a strategy to sell them back, or at least a smaller number to the same individuals when the announcement is made allowing proper price discovery rather than this charade.