Member Info for Aubery

Nope, I do not manage forests.

Poly!!!
Mate, where have you been?
Hiding yersen under a bushell... you are too coy.
Anyhow good you’ve overcome your shyness.
Please share your insights

Gold
Please share the concerns, don’t keep them to yourself

LTM

You’ve had how long to share your wisdom??

‘... but I feel that the time has arrived to setout some facts....’

For anyone wanting to share their knowledge of mining you’ve had years and years...

Yet you wait to post until now... ffs.

Avo
But what is the maximum dilution at which we (PI’s) still profit. You’ll find, given our market cap is£300m and SP 4p we can still survive with a huge dilution. I think that is what the folk who were quick to sell maybe don’t get. The base level from which we (me ) profit is much lower (4p!).

Woolve
Did you not listen to the call?
The risk of the shaft sink is what is spooking lenders
End of

Thorn
It might improve our ability to flog the bonds....

Agreed, CF came across determined, think he’s up for the fight.

Yes off book. In USD....

What, they’ve completed the strategic review Cro??

No it doesn’t and there would be recycling of the SP but the company would rerate. It wouldn’t be worth £300m .
What would the market cap be post rights issue??
£1.5B.... maybe...,

Avocet
you have the choice of you putting nothing further in and the SP becomes nil or you are offered a rights issue which means more of your hard earned but guaranteed you as a owner of the project and a SP of say 10p + ?

I can’t see anyone stumping up £2.5B and we do not need anywhere near that. If they did they would be mad to do it for straight equity. We need a cornerstone investor similar to GR. they get royalty.
Before we go bust it would’ve courteous to approach the owners (us) via a rights issue first to acquire equity at an inflated price say 10p per share.

Ant,
I posted earlier the 4 strategies that were presented for ST2. If not done yet you need to read the online documents (and not this BB) and familiarise yourself. The presentations are easy to understand.
Yes, going bust is certainly a possibility but we are far from that at the moment. My hope is we give away royalties rather than equity in exchange for infrastructure guarantee of the shaft. Once shafts are built the funds required can easily be sourced by debt.
Please please please listen to the call this week.
Just IMO. And dyo research.

Ant
It is not true that the SP will fall if funds are secured.
Any action that ensures the continued operation will cause a rerate up.
Whatever happens the SP will not be 4p in 6 months. It will be nil or significantly higher.

I need to check to see how GR’s stake and royalty is affected should we be taken over.
She helped us last time maybe she could chuck us another lifeline, say £500m.... but she would likely be able to agree to 40% + royalty....
which given where we are I’d take it.

Yes GR is no mug which is why she opted for the 5 % royalty deal. No problem with share dilution...,, unlike us....

You might be right Tom.
I do wonder though how much of a consequence that extra £500m (for the tunnel) had on subsequent funding. Was it this that tipped the balance....

Tom yes, with hindsight the shaft should have got top billing... but that would have delayed getting our product to market.
A year delay with where we are now is the least of our worries. To preserve cash I hope the board are taking a haircut or being paid in shares!

Sept 2018 sources of capital
Strategic partner to provide capital at either asset or project level

Completion support potential for stakeholders or institutions to provide contingent funding to mitigate cost overrun risk

Structured capital. Alternative sources of capital incl subordinated debt and leasing providers

Capital markets. Convertible notes, new equity ..,

These were the options a year ago. One would hope that CF was pursuing multiple options in the background and that he isn’t starting from scratch.

From memory on the call he mentioned He had received multiple approach’s for support....