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That average is great and I have no doubt this double in matter of 1-2 months if decent upgrade results
Cheers , for reply , I brought in anyway and will try and increase as and when funds allow , I think to have a average of 9.55 is extremely good value , and will tip up as much as I can in the near future
Surely the time line sequence will be, if possible:
1) Results of new drilling, with substantial increase in resource.
2) Mining Licence
3) Offtake Agreement
4) development Plan
5) Cash raise via debt, off take and equity or some mix of these.
That will ensure maximum cash raise due to mitigation of unknowns and associated positivity.
Waiting until then may well mean you lose out on SP gain after 1-4. Worth thinking about.
I don't think we'll see a naked placing without some other information to go alongside it. Doubt very much the 76% brigade would be happy with that and although clearly MF doesn't give a ?!?!? about retail investors I'd see he toes the line where his HNIs are concerned.
SO I expect we might see a simultaneous offtake announcement with a corresponding substantial investment at least to cover the initial $20m phase 1.
I just can't see a placing at these levels - but heck as has been said before 'This is AIM'.
I'm long , very long, and would look to add even more if ADV perform within the next few weeks.
I suspect they are working on a new presentation. You would have thought that they won't be going into fundraising/financing talks based on the existing presentation. I'm contemplating adding the next chunk, but previously told myself I would wait until the anticipated placing here. Are folk still expecting one and if so, any thoughts on whether they will do it at these levels or look to get some momentum going in the share price and raise at higher levels?
the corporate presentation online is now a year old, which needs a refresh due to the C19-caused delays on the EIA. It should be all stations go with plenty of concurrent activity having taken place whilst the compnay has been waiting, so this could snap like a taunt elastic band into action!
the biggest mover in the short term is trhe resource review - how much more THM is there in the ground? Comparision to Bluejay sp has been a frustration, with us not having the spculative interest as much as some would have expected. Sri Lanka is no doubt a challenging jurisdiction for legals and regulatory activity, so we have to factor some of that in to the current sp, but these risks should evaporate as we move through the gears to full production I think.
My apologies for a slow reply on a busy work day! There are a number of options in the mix I believe; that the off-take agreements will be agreed and this financing provide the capex to do the works, with some bridge funding laid on by KLK (one of the primary shareholders before the RTO of the shell) or by another one of IIs with 76% of total shares. Some works required (namely the dredging at Oluvil port) should be funded by the government in my mind, but as with many things private money might make the more sense to get it done at the right tempo. The sand seperation plant is the main cost, with excavation being achieved with commerical plant readily available on the open markets. i'd expect the order for this to fly in once we have the mining licence and payment terms agreed with the vendor on a sensible repayment schedule.
Hi airbourne, with the cost of 20m for the site and a cash balance of just ober 1m has the company stated how they will pay for this.
I'm looking to buy in here , and doing some research , the rns and the website is a good place to start but looking here also
Regards
Different time and circumstances, but I can understand your apprehension. The field details are a matter of announcing the findings and are on CMET alone, so a delay to this would be difficult to explain.
After last year's debacle I ain't getting hung up on timelines again. When it happens, it happens.
So timeline for news on increasing field size is due very soon. I’ll be keen to know how much further resource potential there is, and how this will encourage the finalisation of off-take agreements. I know capex for building the site is c.$20m, so we should be getting the financials anytime soon (on a presumption the mining licence is scheduled for approval soon in its own right).