Member Info for Aubery

Steady on there Danny
.....,,,

GK
Thanks for sharing your thoughts,
Frustrating that the $2.5B for the 2nd bit can be likely secured as debt.... but only after we’ve secured $600M which I suspect will be very painful.
Onwards.

GK
Good for thought. I get the bonds stuff.
But the partner? Are you suggesting they get shares for their £155M?

Thanks Trading
Yes the website needs updating. Warrants accurate as if 10 nov. Lots happened since then
.... but I reckon their admin have been busy
Lots of housekeeping

Hawk
It’s a good question and I don’t know . TDT has posted info on outstanding warrants.

Not sure what you mean Hawk?
The company have made clear that current operational cash is good and there will be no near term placings (or warrants) issued.

Stockdale, when you state ALL, the RNS regards Accelerator applies to May 2018 Warrants only

Whatever the solution it won’t be simple to understand....anyone read the prospectus.....jeez
I need to listen again to the call you’re right ffc
I from the slide deck they are undertaking 2 paths to the critically important $600m. A Financial Investor Process and a Strategic Investor Process.

Once this is sorted it will the be a RCF type instrument for $2.5B (debt)

Cannot see it ffc, those wanting to lend $500 knew it was part of ST2 which unlocked the RCF. New finance is split across Initial Scope and Deferred.

Speedie,
This stage two funding was the most (still is) important factor in determining value for the PI (LTH). Taking CF at his word, the stage 2 lenders did not like the risk of the shafts and the shaft build contracts. Risk appetite should have been determined prior to going to market... maybe goal posts were moved, who knows. Whether it was JPM that led CF or vice versa we will never know. But CF has been paid the big bucks and carries the can, not JPM.

My view is that CF was overly ambitious in trying to prevent dilution and bring poly 4 to market at break neck speed, very noble. But, ironically, this set back will result in everything he wanted to avoid... big dilution and delayed operational mine.
We move on.

Dt

’The company were naively led down the garden path by jpm...’

Who led who??

You’ve seen CF CV right???

Ffc
I’m less grumpy now given the recent update and confidence that we will avert admin....I’ve also had a night out with Tim Taylor, he’s a put a different complexion on things

Long and strong

But grumpy

Ffc
I am sure you are offended.... not
Please enlighten everyone on my view?
I too believe from here (3p) there is value
It may make you feel better having folk state £1 party, £5 party (JR’s best ever) and 15p before Xmas....which is fine. Don’t get grumpy when they are called out.

Showmethemonet
Quite measured and I agree.
Careful of those posting lazy high SP prices. They’ll never show their workings because they have none.
Only when we know the deal can we then debate SP and valuations.

Nice calcs iwantthatone
Unlikely
Who is going to buy those 2p shares....
.... I think the PI community is fatigued....

Nice one KoH

KOH
‘It's perfectly fine as long as capital appreciation measured from your average buying level is preserved’

Many on here will not get that...

But yes, when the benchmark is being alive , things are rosey.

Woolv
A lot was made of the savings which is fine and welcomed. But...
Compare the programme and ramp up to 13mtpa and 20mtpa that were part of ST2 and look at the revised plan....
many in here were in for the divvy (myself included)... this is now many many years away and when it comes will be peanuts for the PI when compared to ST2. IMO
But for fear of been labelled a basher, I’m long here and see value from 3p.

Ffc
The problem with shares is.... their number can increase (and SP drop) as had happened here. Hence the current large PI share holding and no ‘significant’ institutional holding.
Of course speculation but my guess is large royalty.... it’s fixed no matter how many shares....

Ffc
I see huge dilution through shares as limited. No third party supporter will want shares unless they can flip them at a profit.
I suspect royalty... see Gina deal. So on the face of it we will look ok... but come divvy time we will be back of the queue..,