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Chris, we've been saying 'lots of good things coming' for sometime now. I can honestly think of as many bad pieces of news as good pieces of news likely to land between now and the end of the year. And given Hanno cannot hit timelines that are in his control, I'm not necessarily counting on the good pieces of news coming to fruition in the next 3 months.
The end of the year means they have enough money for 3 months. That's it. So he needs to get the bloody finances sorted, and fast. Shareholder loan backed by mgt (Haworth and Hanno in particular) would be the best move to make. No dilution unless the sp goes to a certain level (higher than 3p). It would also signal they are v.confident the project is going ahead. I'm unsure as to why they wouldn't go down this route given it was used years ago when the power plant was more of a concept and had less potential than we've been led to believe it has now. A loan of $500k would take us to end Q1 when the project should be far more de-risked and the sp much higher. They can then raise again at 6p+ any additional funds needed. They may even be able to force the options on the last raise if they can deliver the tariff approval in January. That would give them all the cash they need until FC, without too much more dilution. A loan such as this would create a mini re-rate. Hell even I'd buy more shares if this happens.
On the other hand, if he's thinking of doing a capital raise then every week that goes without a finance update the sp will falter, and once we break 3p the next raise level will be somewhere in the 2's. That's a lot of shares for the minimum $500k needed if GE falls over, which is the big -ve news that will break support. You'd hope Hanno and Haworth are thinking this way, but I'm not sure this is the case given the decisions they've made in the past.
Shareholder loan is a simple solution that will get everything back on track. It will re-rate the SP and give them enough room to work through any issues such as GE pulling out and hit any delayed timings as a consequence. News such as historical costs approval etc are also more likely to have a greater +ve influence on the SP. I'm not a CEO, but it's pretty easy to see the right move to make.
The company is funded to the end of the year and lots is likely to change for the benefit of the company between now and then.
As I've said the first order of business needs to be the funding issue. Hanno shouldn't have mentioned funding in the rns or interview and sorted it out in the background. He never mentioned shareholder money going to his brother's company so I'm at a loss as to why he would make an already nervous investor base even less positive. Quite an amateurish way of managing a situation where you need additional funds. If he's to fix his error he needs to convince major shareholders to open their wallets (yet again). Better still, he should ask Haworth to give us a loan, which can be cashed in later. And even better, maybe Hanno should pull his wallet out for once. The guys has f'all skin in the game, which really p!sses me off given the skin I have in his company. Then of course there's the GE issue that needs to be sorted one way or another. How the hell we've gone from a seemingly strong position to this is beyond me. I've invested in the project and it's potential, but the biggest issue I have is with Hanno - I simply don't think he's up to the job.
Seems like a great time to buy with the company on at a milestone and the price where it is.