Member Info for addicknt

I found the hormone therapy far more debilitating than the radiotherapy. I still suffer from some of the side-effects and have been told I may do so for ever. Still, it's better than the alternative.

RK, me too. And I had the added joy of having my treatment delayed by five months 'due to fecking covid' and the ludicrous over-reaction of the NHS. I'll never forgive the politicians and bureaucrats who made this decision, one whom, I ashamed to admit, is a cousin of mine.

Q, they don't have loads of spare cash looking for a home, so one doubts their ability to invest much. They could provide a government guarantee, but how credit worthy is the Ecuadorian state in international markets? And would they commit to funding which would benefit a load of western investors?
I'm not rejecting the notion of government support, I'm simply wondering about the practicality/probability.

Sire, spending on the NHS in 2016/17 was 140.2bn. It will be 180bn in the current year. You happen to have picked the one statistic which suggests it wasn't a lie.

Q, sadly, yes.

The government is staking a great deal of its reputation on this and one wonders how much information it has actually been given by the company. If they've been shown concrete evidence that funding exists and a feasible plan has been developed, then why haven't we been given the same info...as the regulations require? Or are they merely indulging in hype in the same way of all governments?

With no sign of a DFS/BFS on the horizon, this sounds like wishful thinking.
Of course, it's possible construction will start in 2024, but not with us as owners.

Bozi, the only circumstance I can envisage which would lead to the SR not being produced is if we've received a knock-out bid(s) which the board intend to pursue.
How likely is that? No idea, but given we haven't announced anything, I'd suggest it's unlikely.

DM, I think they may be trying to do both simultaneously and I'm pretty sure the SR will have made the assumption of a single entity from day 1.

I suspect if there actually is a delay it won't have been caused by the main body of the Prospectus, which is pretty much mechanical and boilerplate stuff. Instead, I think it's a result of the wish to include the result of the SR. As we know, this is the number 1 priority of the company and the various options being examined are very complex and will define the whole future of the company. Therefore, it's essential to get it right and it will take as long as it takes.

Q, I wasn't referring to RK.

He wasn't suggesting that the recent funding rounds indicate a company value in the event of a sale, merely that the funds are being used to get us closer to a proper value. But you know that already.

He wasn't suggesting that the recent funding rounds indicate a company value in the event of a sale, merely that the funds are being used to get us closer to a proper value. But you know that already.

Fawzi kindly responded to my email.
He's unable to offer any guidance on timing or progress other than what's been publicly stated (I wasn't asking him to reveal anything price sensitive)
He reiterated the four main items on the SR agenda and said the two funding rounds were designed to satisfy point one of the SR i.e 'evaluating financing alternatives for the Company that endorse project value'. Make of that what you will.

Fort, read DM's earlier post.

DM, thanks for reminding me of that excerpt. I guess
it's possible the Prospectus will be the Grand Reveal?

DBW, you are right. The extract that Q produced on here the other day states that first production will be 'mid-2029'. Given our total inability to ever hit a deadline we should be looking at about 2032, which, I admit, I got wrong. I'd always maintained 2030. You may recall Q saying 2025 would be the year the first ore was produced, although he did caveat that by saying the ore would come from an open pit mine. Sadly, the relevant web page makes no mention of that.

MR, as you've not been on this board for long and have so little understanding of the company, I'll give you some help.
There's only been one occasion when I suggested a bid was likely sooner rather than later, and that was when the agreement with BHP lapsed, at which stage I said the 'gloves are now off'. In as much as our relationship with them subsequently collapsed, I was correct.
I don't predict dates, I merely suggest a sale is inevitable at some stage, which, given recent events, is not that unlikely.

RK, not so sure about that. In my day the IR people were only brought in towards the end in order to read through the document from a PR point of view. They never had any technical input, indeed given it's largely an accounting/regulatory document, they're not qualified to do so.

DBW, yes, you'd hope so. Based upon the October RNS, I reckon the SR has been ongoing since September last year and perhaps even earlier, so we're at least four or five months into the process.