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Not posted a YouTube link before so hoping this works…uploaded on proactive channel yesterday.
https://youtu.be/glBY0yB2scQ
JM confirms:
1) The debt portion is 60-65% of the total package
2) Cornerstone investor well advance and credit facility being signed off was a requirement (so this part can now be signed off)
3) Offtake which is well advanced - “WITH A MAJOR INDUSTRY PLAYER” - this is brilliant!
4) Final piece is public market offering to close out total financing.
Hearing this has definitely lifted my spirits more!
SeanT - fair comment and I see your point.
I was frustrated that we ended the day only 1% higher than we went into it - a fair comment in my opinion. We hit 9.9p back in Feb and that was before the flow of news we have had since…so whilst I don’t want a huge spike, I was expecting a gradual increase (as you pointed out I said yesterday morning) and for it to hold, to get the MCAP moving now. We’re still 13% down on February’s high of 9.9p, so I believe a venting of some frustration is fair - we are all in this together after all.
This company is worth more than £145m. I guess we’ll have to wait for the offtake/cornerstone investor news to realise the increased value.
Have a good day all
Likewise soundbuy. Not just frustrating….but a complete p***take.
Still - long term price / return / dividend is what matters. From memory JM has in excess of 25m shares option? If he is calm I’m sure we can all be calm… :)
D220 - almost certainly. It’s been de-risked massively, 346m is not to be ignored as it’s a majority of the required capital now secured. Much easier to convince bosses why they should invest.
Bwana, another thought too - depending on size of offtake agreement the equity raise could be further reduced, and who knows…if offtake is large enough it may reduce the amount actually borrowed through the debt facility? We have $346.2m available to borrow, doesn’t mean we absolutely must borrow every last penny/cent.
Although with the future cash flow what’s a few extra pennies to pay back….. ;)
Also worth noting:
RNS 17th June 2021 - debt component stated to be $325m
Today’s RNS - debt facility for $346.2m approved
They are exceeding expectations - bring on the cornerstone & offtake agreements in due course.
More importantly….let’s get building!
Luke - “If” is my favourite poem and very much applicable to the situation we are in!
“Yours is the earth and everything that’s in it” yes please!
We know what’s in it….we’re just on the way to getting it out! Haha.
Have a good weekend all.
Brisk
https://twitter.com/HorizontePLC/status/1440922627955216385
You wouldn’t post this snippet of the full video up on the 23rd of the month you’re expecting to complete funding announcement for unless you were sure it was going to happen…..
Right? ;)