RE: Forward sold10 Sep 2020 09:23
Honestly as much as i've criticised AP in the past yet some how justified placings are required to get the mine going, this one feels like smoke and mirrors to be along with the apparently covert finance deal they can't release anything on. Lets look at the facts here;
- We was informed there was an issue with the bridge on the 7th, considering first offtake was due to be taken end of August Early September, one would not be deluded to think this would mean the majority of the offtake required would be already in the flotation processing.
- A few days later we get an RNS with proposed date that the bridge will be replaced, much sooner than the four weeks quoted?
- We have to raise to pay for said bridge....fair enough....why then raise for further mine development if the finance and first offtake are so close. Why punish shareholders when nothing has been delivered? Ah okay, they needed to ensure that next month's wages were in the bank
-What happened to the cash raised to pay atlas off should they convert? Surely its fairly obvious the SP isn't getting close to .24 any time soon so this could have been quite safely used.
"Disappointed to have to go back to the market for further funding" - Complete and utter bull, there is a reason none of the BOD hold any sort of meaningful share stake.