Member Info for Anglebox788

Good question, where is the money coming from in the short term to keep lights on? Stark are running the plant, are they paying for the diesel? GR can’t do a placing so a rights issue? How many shareholders would stump up for that and what would the offer price, not going to raise much🤷🏻‍♂️Just need medium term finances dealt with and all this legal problem is going to cost huge amounts, who’s paying for that? We don’t seem to have discussed this issue, would a bank offer a 2m unsecured loan with this going on in background, I would expect not so it’s a new investor or nothing but on what terms. Agree Acker a good DFS and RUS would give us some lithium bargaining chips. Still think this will work out well but not as confident as I have been and now heavily in the Red as I’ve averaged up over the last few weeks.

Tomorrow is day zero for the agreement of the addendum to be signed, so yes, no, or extension will need to have been mutually agreed between Prem and Canmax.

Surely we will be notified by RNS BEFORE the EGM. If the news is not the expected good news, the SP will drop considerably.

Is GR then going to do a placing of the 4 billion shares to his inside circle at a 20% discount to the depressed SP therefore not raising anywhere near the £34m need to repay the prepayment never mind keep the lights on, and further depressing the SP.

What’s plan B?

Unless he’s in advanced negotiations with a well healed 3rd party we have problems. Very much out of our hands, 08.00 Monday could be carnage. All very well individuals saying good time to top up if you’ve got free cash but that doesn’t help the LTHs with their hard earned tied up in this. This is not a deramp just a concerned holder steeling myself for a potential tough day/week/ month. Also as Acker has said unless we publish the year end accounts by 30 th June trading will be suspended

Here’s to a good clear fortune changing RNS tomorrow or Monday 7.00am. As I’ve said before, place your bets folks very Red or very Blue 🤷🏻‍♂️

That’s the best reply pecul1ar, send them to the green box that is Room 101. I’m sure we all welcome a well balance and we’ll considered negative viewpoint, but not just the repetative pointless drivel. I used to refuse to green box anybody but they wear you down, so I now have quite a collection of quarantined ‘contributors’

Afternoon Waffen, I expect an agreement to a heads of terms, which should have a +ve effect on SP. My apologies if I didn’t make it clear. I do share your fears, however, that no agreement would be badly received by the market in the short term, hence my roulette wheel reference. All the best👍🏻

I wonder who stipulated the date for the agreement? It was always very short for such a major renegotiation unless this will be more of a Heads of Terms agreement with final contract amendments being finalised after due process. If that were the case I would expect an agreement to HoT to be announced by the 25th with a very +ve effect on SP.

One that basis I’m holding.

Place yer bets folks and GLALH🤞🏻

…. Just for a bit of balance 😉

To be fair Snowking, we don’t all get the benefit of that inside track 🤔

I agree shiny, if we all stop responding to these provocateurs and filter them they will be left arguing with themselves.

I’m expecting signing of deal to be delayed, it’s a big ask to get negotiations completed and legals complete in such a short timescale especially if GR has only just started to play hard ball with EGM announcement of the proposed headroom. SP will then dip just like other shares we are mostly familiar with, still more patience neededI feel.

Hope all goes well Dickie3times 👍🏻

Just hope GR doesn’t use headroom for another smash and grab with shares granted to himself and all his mates free gratis. Surely should be having a strong dialogue with other lithium players as a contingency, that should keep Canmax keen.

Laverda- the rainy season may affect the roads and logistics to a degree, but it’s not going to have any effect on the rock itself, it’s not particularly porous, so the plant can continue to operate. We’re also producing tons of waste ballast which can be used to reinforce the surfaces around the plant and pit.

Why are we left trying to read between the lines? Why isn't it clear and unequivocal for goodness sake? Surely as an RNS that's how it should be rather than leaving individual investors to try to work it out !!!!!!

RevoltingPeasant-

George specifically said in the webinar that was an avenue he wasn’t going to follow, saying the relationship with Stark is still good

Redtrade-

I feel the shareholders are more angry at being mislead and lied to repeatedly rather than plant issues, he just needed to tell the whole truth and nothing but the truth, we, and the SP, would have coped🤷🏻‍♂️

George missed an opportunity to pressurise Canmax by saying he’d had other offers but not looked into them, would have been better if he’d used Gerorges-speak and said ‘we’ve had strong offers from several interested parties in Europe and America to takeover the loan should Canmax decide they no longer need the Lithium form Zulu.’ A far wiser stance in my opinion.

Let’s not forget it would not have been right to forewarn Canmax as they are 13% shareholders so would constitute insider trading.

Having watched the webinar this morning, I felt we finally got some honesty regarding the issues with the plant and the solutions, not convinced GR didn’t know earlier.

There was plenty of GR waffle, including him saying if a bag of grey dust looks like spodumene and feels like spodumene- it’s spodumene! It’s crazy we don’t know what the plant is actually producing or is that the next bombshell when we find out it’s powdered quartz .

Although I came away thinking what an amateur presentation it was with the CEO in a high viz vest, we know a bit more. He said that he expects to know what Canmax’s response will be by end of this month and will be quickly RNSed, so that’s a tight timescale, let’s see if he’s good to his word.

He seemed to be heavily hinting at an extraordinary general meeting to get permission to further dilute to raise funds to fill the short term financial shortfalls. He said there was other interested parties to replace Canmax should they pull the plug but then said he’d not looked into any of them, I feel he’s still winging it, if he’d taken the effort to to firm up a backup plan it could have been of benefit when facing up Canmax if they play hard ball.

I’ve made mistakes in the last 10 days which has reduced my moderate holding but I’m now settled on holding for 2024, this will likely get worse in the short term but the long term future is still good for long term holders. Good luck to all in the games of the next 6 months

I also think the webinar is a mistake, in my opinion it can only do harm. GR’s only chance on redemption is to get his head down, keep his mouth shut and only communicate through regular (at least monthly) truthful RNSs giving updates good or bad on progress numbers (historical and projected) and the finances of the company. The shareholders just want the truth. We don’t need to see your cheery-chappy face spouting more of lies. If he’d told the truth at the PR rodeo, the SP would have not had the set back it has. Maybe he will prove me wrong and be apologetic, humble and contrite, I’m not holding my breath.

Trouble with the webinar is that the shareholders just won’t believe a word that he says he has zero credibility, zero integrity and whatever he says the SP will more than likely tank again on Tuesday. I’d be very happy to be wrong🤷🏻‍♂️