Member Info for addicknt

bandit1, I agree. PS would have been on alert for weeks about this and he's not one to sit on his hands. Presentations and discussions will have been going on for ages, not just for this phase of the funding, but also the bigger picture. To me this is a bit reminiscent of the the Tesla situation. At the time some people were concerned about the failure to conclude with Tesla; in hindsight it was a masterstroke. NV couldn't raise the ante; they tried to re-negotiate and PS told them to ferk off.We don't want people like that on our register, so I'm happy it's not happening.

MM's have just provided a great opportunity for people to buy...which they are taking.

Btw, the question for today will be; has the market already priced this in, or will we see a fall? Of course, the short term movement will be irrelevant, but we all know how people panic.

I would say a pain in the ass rather than either good or bad. PS would have been on alert about this for some time. He would have been pursuing other routes and one can only hope he's made good progress. My own view was that there appeared to be a potential conflict between Hanwa and NV and I'm glad that's out of the way.

One other thing, both this situation and that of LithiumX will serve as a warning to others who may be tempted to deal with NV. They have destroyed their own reputation. By the way, I really hope PS doesn't waste time and money pursuing them. The chances of success in China are virtually zero and he's got better things to be getting on with. Put it down to experience and move on.

So, my suspicions are confirmed. The LithiumX announcement revealed the type of 'fund' NV is i.e one without committed investor cash. When dealing with private equity type funds,this is always a red flag, as there is no guarantee they can actually deliver. My guess is that against this backdrop NV tried to renegotiate the terms downwards and PS told them to take a hike. Frankly, the only thing that surprises me about this is that the company's advisors hadn't advised them against talking to such a fund. Of course, it's perfectly possible they did, but that PS was prepared to risk it. In any event, this setback is a reflection on NV, not our company and does not cause me any undue concern. There are many other fish in the sea.

I don't know who it was, but I do know what he is...an idiot.

I've just asked HL what's happening. Has anyone heard from them?

Kdnc selling?

I'll let you know Fuku.

Fuku, I can understand the frustration. I'm fortunate enough to have a low average, so it's somewhat easier coping with the swings.In other words, I'm not looking at a loss each day (let's hope it stays that way!)

torchy, I'm sitting on a stack of cash waiting for the announcement of funding. I'll subscribe if we get the chance, or, in the event that a placing reduces the sp, I'll will buy in the market. The market route is risky because I think the odds are that a cash raise will increase the sp. But I'd rather wait and see how it plays out.

torchy, that would be an obvious explanation but, after every other placing the price traded well above the issue price, particularly the one announced for NV (KDNC's �1 job was the notable exception. But then again, that was KDNC, which kind of explains it)

Yes, strange, isn't it? There is no significant selling pressure, indeed, volumes are tiny. There has been no bad news and we all saw the very upbeat interview with PS earlier this week. The move to London will save costs and place the company at the heart of things (rather than Back Street, Manitoba) and the lithium macro position is gaining traction. So why is this happening? My only guess is that there are concerns about NV not completing, which to be honest, I had kind of expected. Still, for us long termers, we've seen it all before.

FUKO, that was my memory, too. But I couldn't see it...mind you, I only had a cursory glance. What I don't recall is how much it cost us. In any event, if we can't get lithium out of it, we'll be able to sell it to a drugs cartel.

obs, for some reason I didn't regard this as new news, but I can't put my finger on when we were first told. I thought the interview was interesting and the lack of reference to NV suggests it may not be happening.

TC, you could well be right. I'm feeling absolutely crap today and not much is making any sense.

They make specific reference to the pre-emption rights of existing shareholders. This looks to me as a clear indication that we'll be able to subscribe for new shares in due course. It also refers to new funds being 'substantially' equity. You can read this several ways, one of which is that the debt market ahas become tighter. The reference to London being the place where the money is is also interesting. It seems to be saying that Asia may not be the source of funding.

This is a very interesting announcement indeed as it reveals the true nature of the NV fund. By the sound of it, it's not a 'traditional' fund i.e one that already has fully paid-up funds in the bank. Rather, it is more akin to a number of private equity funds which draw monies from investors on a project-by-project basis. In these situations the fund has to persuade the investors of the case once they themselves have been persuaded. They are always slower than normal pe funds and there is always the risk of them failing to raise the cash. I wonder if NV are experiencing delays with their investors which in turn is delaying them from completing with BCN in the same way as they are having problems with Lithium X. I hope our lads are talking to other parties.

Good question. And I haven't seen an agenda yet; have you?