Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The detail of any condition precedent ("CP") around environmental approval is critical for me, although I doubt we'll ever see it. No reason at all why the debt deal can't be signed without the approval, but there could still then be a CP saying they can't actually draw the money down until they have the final approval. If that's the scenario, it's hard to see how they could continue the current pace of construction without another equity raise / "convertible loan". But it's completely possible that the agreement would allow for some draw down ahead of approval, which is what's been happening under the preliminary facility anyway.
I am a bit concerned about them needing another interim raise, especially with some large items of kit arriving soon, but the fact that Tony and Ian have both bought a lot of shares recently does provide some comfort. I had a look at some other of Ian's purchases in other companies he's on the board of recently and none come close to his recent investment in SO4, for instance.
Thanks for the link Slimbo! The announcement regarding the convertible notes placement SO4 stated that the final debt agreement will be signed within weeks. For me, weeks are sounding more like 7th August instead of 18th September or later. But if the final debt agreement really is only subject to the environmental approval, is the draft enough or will they wait before to is signed by the minister?
I'm also not very concerned about them not getting the approval at some point. Middlemass certainly wouldn't risk his good name for that. But if this would take significantly longer they might need new money again.
The only thing that we really know is that the management runs a very high pace and everything is extremely tightly scheduled. I'm sure there's some risk in that.
So it is, Slimbo Thanks.
Report finished on the 7th August and presented to Miniser for signoff 18th September.
The key question for me then is the final report published on the 7th (My guess is yes), since SO4 have been dealing with a draft I'm not overly worried about the results. but obviously it's a key milestone.
The timetable for EPA approval is on p2 of this doc
https://www.epa.wa.gov.au/sites/default/files/Environmental_scoping_document/CMS17696%20-%20ESD%20-%20Approved%20-%20140520.pdf
Hi CS, nice piece of work. Thanks GK for posting. The fact he has I would take as a vote of confidence; I always found his analysis work very good.
I will mention Trigg Mining, any thoughts on that?
Welcome to the board, I was considering putting a link to the article on the DNK forum, but since you're on here I think thats up to you, it is ridiculously quiet though as its yet to achieve the kind of critical mass of users needed for a full discussion. Also worth doing on the DNK forum on hot copper IMO ou might get some decent feedback.
Meanwhile in So4 land we still await approval from the environmental agency, according to a post from a mysterious stranger known as 'lenses" on the blue channel I think today was the day the company should have completed the last part of the applicationsl, and final approval decision is scheduled for early August
Hey guys,
I am the author behind the blog CommodityScreener.com and the research report in which SO4 is covered.
I realized that a lot of visitors are coming from this website, that’s why I discovered this page. My blog is still very small that’s why I realized it. First of all, I would like to thank GaiasKidney for posting the link to my report. That really helps!
What I can tell you is that I am a private investor in SO4 for some time now and I wanted to compare the company to some of the competition in the industry. Therefore this article is completely independent. Other than that I hold shares in the company there is no relationship between me and all the companies covered in the report. I am investing in the mining sector for quite some time now and I always wanted to create a blog where I can discuss my opinions with others. That’s the reason for the blog commodity-screener.com.
I see that this board is discussing SO4 quite regularly. I will continue discussing with you guys here. Of cause, you can also contact me privately via my email address which can be found on my website.
Cheers
GK, if it is your work, do you want to look at Trigg mining? Very early, and very low cap. I suspect that when SLP start producing and institutions start seeing money coming in then there will be a de-risking and re-rating for the sector; and small start-ups like Trigg will find it much easier to find funding. SP will re-rate more.
Hi GK,
long time, no see! I recall I followed you to SLP from SXX a couple of years ago.
Is the research blog your work?
The quality and honesty looks similar.
Of course anybody could be any body so I'll let you make your own mind up Eccles Cake. This was posted around the same time as the report, when the writer responded to a criticism that the environmental approval dates weren't covered.
"Your right. The problem is collecting all the information takes a lot of time and my time is limited. I am just a private investor and started the blog as a hobby project. I am invested in SO4 and DNK and I just thought it would interesting to see what the competitor projects are like. Your right that environmental approval is an important point in the development of a project. If someone sends me this information I would be grateful and I would insert it into the tables. But it is just a fact that only the projects of Salt Lake Potash and Kalium Lakes are likely to go into production in the “near” future. All other projects are lacking a lot of milestones which these companies all ready have achieved. That’s the reason why, in my opinion, these two companies are my personal favorites and the information on them is more detailed.
And hey, it’s my first attempt two write an research report about a particular commodity and some stocks. It can only get better
So again if some would provide me with that information I would gladly insert it into my report."
It's been done by a self confessed amateur and published by him on the hot copper boards, so it's genuine, but genuine in the same way one written by you or I would be genuine, must confess he's done a better job than I would have done. Good to see you haven't abandoned the boards, GK.
If that article is independent I'll eat my hat, this MO is from the Wildhorse Energy days. Drill down and there is no credibility behind the author or the commodity screener.