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Me too. Even modest rises here will outweigh the downside risk
At 30 June 2021, the Group had cash reserves of $69.441m (2020: $7.030m) and net assets of $251.896m (2020: $60.127m), an increase of 319% compared with the previous year. The increase in net assets is largely a result of raising $202.148m) throughout the 12 month period and directly applying those funds to the construction and ongoing development of the Lake Way Project.
There's a block buyer picking up stock this morning - all those round trades in the 100s of 1000s. That seems to be pushing the price up for now.
yup - dangerous territory here. Something is happening - but without any more information about the capital raise, I am still highly sceptical!
Personally a rapid dump on Monday wouldn't surprise me at all.
get your bargain shares, I think this was oversold somehow.
If they have so much cash why are they suspended in order to secure funding? And why did the RNS on 29th July state 'The Company will require further funding to continue operations at Lake Way before the end of 2021'.
Be very careful here this company is in real trouble.
In at 2.40 today, 3p will be smashed any minute.
I've topped up on this bad boy. They've got insane amounts of cash reserves. When this suspension ends this is going to fly. I wouldn't be surprised at 12p by Christmas.
NT ONLY
33p
year high
It was 19p not 1.9p
Guys you must read this RNS dated two or three weeks ago.
Look at their CASH POSITION.
PHENOMENAL
https://www.lse.co.uk/rns/SO4/final-results-loihpg84rv77xfj.html
last placing was at 1.9p
The company conducted six separate equity capital raisings in the year to June, with the latest being a A$27mln placement at $0.35 per share.
News comming ?
2
Second Price Monitoring Extn
look like very busy
Bought some this morning sub 2.3p having watched the company for years and remember being ‘peeved’ with myself multiple times when I didn’t buy a rare dip sub 23p (would be 10x now). Aware of the problems here and feel lucky to not be a heavily underwater holder (yet). The issues don’t seem insurmountable essentially being presented as a delay and shortish term production reduction with teething issues and some money needed to sort. Finance is a big unknown but just because the non-suspended aim has sunk so far I don’t think that necessarily means too much towards indicating the level of the needed further financing? Relative to total money spent to date, expect the level of further funding likely fairly minor and if the delayed processing timing sorts the chemistry as expected and leads to sufficiently stabilised grade and the (more worrying in my mind (layman)) floatation can be sorted (this info was very vague (hence my concern)) confidence could rapidly return. The sector and project broadly on paper is great and why Ive shown interest for several years but Ive been bitten and still slightly underwater with struggling ops needing finance before (rmm - funding level shocked me to downside) so relatively small amount for me for now.
AIMO ATB
Bought a few more at this price. Can only go down a couple of pence.....may bounce to double figures again one day?
Something is happening here this morning, it was no quote to buy for 20 mins earlier, considering its been constant selling for months it shouldn't have been that difficult to get a quote
https://www.afr.com/companies/mining/salt-lake-potash-begs-for-one-last-chance-20211001-p58wfp
you could be right in this one
Looks like seller out here..
Oversold on what basis?
No news of the (latest) capital raise, I've lost count of how many extensions to the ASX listing pause there have been and we still don't even know how big the hole is!
How much dilution? Anybody's guess.
Don't forget, from previous capital raises (at 9% and 12%, this one at !"%) capital repayments start on March 31st, so they have to achieve positive cashflow from production by then or renegotiate those terms as well. On the known information the BOD have a very difficult task; you , I and all other investors (ignore the traders trying to force a rise) have to decide if the BOD is up to the task. Remember that the new CEO is NOT there yet and his appointment is contingent on ASX listing no longer being paused. If the existing team can't pull a rabbit out of the hat, there will be very little left for creditors (Check back on the financing, the money people get Lake Way and infrastructure that is there. 2p is way over values in full context and full 'risk' factor applied.
Thanks for the positive post. I hope you are right bunsenburner123.
I believe there’s a very large bounce trade coming up here. Way way oversold - get ready... 4p coming up on plate ladies (DYOR etc)