RE: We don't trust the board4 Oct 2022 22:11
Clever it has been known, but as nearly all emails are probably asking about price sensitive information they cannot say much. I mean what else are people going to ask them about. Hi, MB how is it going, having a nice day, laters, xxxxx...
The team is literally 3 people, this is reflected in comms/PR etc....however all reflects the meagre $150k admin costs for the year, compared to Martin at HZM this company runs on a shoestring (latest £1.7million in bank). Whilst we are talking about Martin, Matt Bull owns 10% of the company and recently put another £172k into the coffers. I see the news on HZM and much of what people complain about regarding director ownership (skin in game) and not giving a @>?""> about shareholders when it comes to raising cash. It is believed that not only MB has skin in game but has been supported by family and friends....again more pressure to finance ACP mine build with the best deal possible. This is a low paid director with big skin in game compared to HZM and team.
No doubt comms could be better, but in reality other companies rattle on about crap day in day out and their share price falls too (some people think this is the only share in AIM to have lost value since start of the year), unless you are issuing price sensitive updates then you are just wasting money on PR and wasting dry powder for when it is needed most, the run up to finance when things like the Gov % is secured and optimised DFS is released and potentially first actual offtakes. And those things will have to be in place before finance is secured whether people like it or not. It is also believed that BKT are the frontrunners in Tanz and ACP will follow in their footsteps, this will give market insight to finance package they get next door with same product pretty much. They will start build first and certain elements of public infrastructure then do not need to be built by ACP, saving in DFS capex. Having BKT build first might mean DFS stage 1 can use Hydro electric from the start, whereas before is was stage 2 that would use it because by that time BKT would have put in the infrastructure for that. Now it looks like it will be in place from the start.
Capex is peanuts in the grand scheme of things and cost overruns are going to be on a much lower scale here, in fact current capex has 15% baked in to it. Gov % will eat into NPV, but pricing was always done low, recalibrated to peers and current pricing jumps NPV by 30% so will more than offset Gov % and additional opex costs related to inflation etc. IRR in 90s there is a lot of wiggle room here for costs and still remain low capex high NPV.
Hopefully finance will coincide with graphite deficit and increasing prices making projects more attractive than they already are.
https://www.reddit.com/r/pennystocks/comments/pvzx17/dd_armadale_capital_plc_acplse_large_flake_high/
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