Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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Thornback 7.006bn its at the top of the page.
Does anyone know what the current number of shares is now that the Stage 2 Equity has/is being returned..?
Thanks
The equity raise for stage 2 was to cover the increased cost of the tunnel (to reduce risk and reduce opex).
The best part of that equity now doesn’t stand having the convertible bonds paid back.
The project is ahead of schedule and a lot of risk already reduced. (Aquifers were always a favourite of mine and still stand).
The project lends itself to 3 billion usd senior debt.
Can a revised budget bring us below that?
Lots of options to raise the cash still available. I prefer royalties over warrants or further equity raise. Similar to Ginas deal. She paid 300 million for her stake.
The problem with a ri is that it is still not guaranteed the banks will lend, dont buy more yet, wait and see what happens first.
Im happy with those numbers... i dont see a problem with another rights issue if we can still achieve SP of above 20 with it... makes me want to avg down...
AFTER A LONG DAY MY ATTEMPT TO UNDERSTAND THE LIBERUM CALCULATION AS PROMISED
Investor figures for 13mta NPV 50% RISKED £5.9BN 2021 £8.7BN 2024 - this may be delayed 12 months ?
Cost of completing mineshaft past aquifer (1 sbr to ground zero) $300mn ( say £250m )
£250m at (A) 4p per share 6.25bn shares or (B) 5p 5bn shares plus 7bn in issue = 13.25bn or 12 bn shares
Possible sp 2021 (A) could be £5.9bn over 13.25bn = 44.5p or (B) 5.9/12 = 49.2p
Or sp 2024 (A) could be £8.7bn over 13.25bn = 65.6p or (B) 8.7/12 = 72.5p
This assumes all other costs are covered by debt. The cost of completing the mineshaft to investor satisfaction may be more than £250m. No doubt other factors could affect NPV both positively and negatively.
Liberum calculated ( for a cost of $500m or £400m approx @ 5p per share ) an sp of 38p so their figure looks slightly , but not wildly optimistic ? A lot depends of course on 1) the amount we need to raise and 2) at what sp it is raised.
Anyway my starter for 10 - if anybody can get hold of liberums note we could check in more detail ?
As always feedback welcome - perhaps between us we can come up with a reasonable expectation supported by calculation rather than guesses ? GLA LTH