Member Info for CalmInStorm

Hopeful of Positive outcome here especially if most of plant repairs are complete now. Few months back they produced 600 tonnes a month so full production should be achievable with all the repairs and it will be win win for all stakeholders including us pis and workers too..

I dont believe in theory that they are plotting to aquire mawana fully, if thats the case wont it be much cheaper/easier to just buy back shares than go through complex insolvancy process or other dodgy dealings. Remember PI's only hold about 25-30% effective ownership in Mawana.

zci, fujax, workers has lot to loose from insolvant mawana to be honest..it makes no sense..i reckon resolution will be reached between all parties..good luck all.

once all parties sit down

So Mowana's ownership structure -

Leboam Holdings ltd (subsidiary of CRA) - 100% (Direct ownership)

Cradle Arc Plc. - 60% (Indirect Ownership)
ZCI Ltd - 40% (Indirect Ownership)

If Leboam does go bust then ZCI will loose its $21m unsecured term loans, if I understand this right. That's probably why insolvency was mentioned in last rns i think.

"Revised ZCI Debt Restructuring

Pursuant to the terms of the Revised ZCI Debt Restructuring, on Admission, ZCI will convert US$79 million of its existing secured debt into a 40 per cent. shareholding in Leboam (as enlarged by the issue of such shares) and a US$9.9 million secured loan will be booked to Leboam (the ZCI Secured Loan). In addition, ZCI will retain its existing US$21 million term loan which is repayable over a 10 year term and incurring interest at LIBOR (the ZCI Term Loan). Whilst currently secured, the ZCI Term Loan will be unsecured with effect from Admission. The ZCI Secured Loan is repayable in monthly instalments over 33 months with a nine month moratorium on capital repayments and interest accruing at a rate of 13.5 per cent. per annum and payable monthly."

This tweeter shit doesn't bother me..I leave them alone with their Schadenfreude feelings...Obviously they always had only winners with all their investments....so good luck to them all.

Yes, It doesn't make sense to take this down now when its close to achieving full production..everyone should benefit when they reach nameplate production including Fujax and other players..

unless there are other motives at play i cant see them letting this go bust..Few insiders will have much bigger stake/money in this than us..see what happens..could be long drawn process..key question is how good shape the plant is now after the repairs..

Thanks NoMark for sharing.

Feel for you and all other LTHs here mate, just when it looked like its turning for good, got this shot fired at us..Align research was one of the reason i got interested in this share..wait and watch i guess now..

Fujax didn't say they won't lend..infact they gave $1m advance from this $4m working capital...they just want some security as their stakes/risks are growing in this..understandable i guess....bad management of finances and operations though in last few months..see how this unfolds or folds

Around £1m...this is from 1st August RNS..this was supposedly to save us from dilutions..

"Agreement for the Redemption of Convertible Loan Notes

The Company has reached agreement with the holders of, in aggregate, £1.275 million principal amount of Convertible Loan Notes issued in January 2017 and June 2017, to suspend their conversion rights and redeem all of the Convertible Loan Notes for cash payments of, in aggregate, £1.59 million, by way of staged and back-end weighted payments up to their scheduled maturity date of 31 December 2018."

If they haven't been paid then probably wont get much service from them..i sent them email last week asking about situation with redemption of CLN's, but had no response mate...

Thanks NoMark, Anything you can share from your call with Tavistock?

I don't understand mention of insolvency at this stage....I really wonder if its scare tactic to bring all parties involved to the table to sort something out quickly by Kevin....mention of Insolvency wasn't really needed at this stage..

Another reason could be deadlines on those CLNs which we were told would be redeemed by paying off in cash as per 1st august rns...they will get shafted too...I cant see many parties walking out scratch free here to be honest..This was my first and probably now last africa based mining investment..sad state of affairs.

IF they have really sorted out most of the operational issues with that 2m loan from ceo's company + 360k from placing including full relining of mill...then there is a hope that Fujax may rethink...or somebody else may put some money in with another set of loan notes..like Jan/June 2017..it all depends on how good shape the plant is after repairs..In any case they need complete restructure of debts now if it gets a chance..

If this goes under, Fujax stands to loose all they have put in. Also it will take years to complete insolvancy process and decide who gets what. Timing of this makes no sense at all especially if most of the plant repairs were completed as was told. Something doesnt add up here unless this was all a fraud...anyways cant do anything now.. see whats next on this.

very strange indeed..seriously thought they are on the mends..got this one totally wrong..FFS

yes, didn't see this coming...complete disaster..should have sold 3.7m there...

they will take 3.7m now..somebody is piling up..

Just tried a mock sell..can sell 3m in one go now..good support at .65 levels...can see this moving up quickly now..good luck all..

http://www.alignresearch.co.uk/cradle-arc/cradle-arc/

good read..

"The stock has been under substantial pressure over the course of this year due to the production difficulties and which have whittled the share price down to a derisory level. We believe that Mowana is now on the cusp of deliver with management aligned with shareholders through Kevin Van Wouw’s large stake. As painful as it has been to have these problems decimate the stock price for existing shareholders, for those able to average down or new shareholders we thus reiterate our Conviction Buy stance and expect these to be a major outperformer in 2019."

Think once operations are on stable footings i wont be surprised if they push production beyond 1k per month to try and catch up for lost few months..they have access to better quality ore now..lets see..

Main issue here is plant operations which are temporary issues..nothing that can't be fixed...happens to many companies at some point...

once we are at nameplae production, debts can be easily managed..some will be deferred anyways..

Fujax lending more money is key indicator and great vote of confidence in mowana and Kevin..this will turn and sentiment will return..good luck all