Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
That may be the case. I am wondering why someone else didn't come forward to buy out MMA and take it forward. That is better than them taking back full control surely. It's a valid question.
There were a number of options. One was for MMA to sell its stake to someone else under the same JV terms. Surely that was the best option yet they are pushing for the option of taking back full control. Why?
Why did no other gold majors want to come in and replace the old JV partners if the Anza project is so good? Gold at record prices yet no other interested parties? I don't believe they want to go it alone with all the costs that lay ahead.
Have a look back through the history of this company. The number of important signs offs they've had over the years. The number of times everything is coming together and the financing is just round the corner. It's all a big con. There is only one winner here and that's Harry. He has done very nicely.
First they lead everyone to believe that they were building towards a 1Moz gold resource. That turned out to be a lot of hot air. Then they pumped the share price with a load of rare earth numbers for a couple of years despite knowing that the grades and cost of extraction made it uneconomic. Then they hit on a new idea of ionic rare earth's but the market had lost interest and rare earth prices had fallen. Now they're onto a new thing which is in situ recovery and trying to sell that to investors. Will anything ever come of it or will it just pay directors salaries for another few years? Anyone holding cobr shares since listing over 5 years ago has lost nearly half their money.
This is going right back down to where it came from. Ridiculous gains for a company on the brink of insolvency. The debtors in China aren't going to pay. Next up will be a deeply discounted placing. Then there's 5G Fund. Either got to pay them off or issue a load more shares.
The big news is going to be how much of a discount on the placing is required to keep this afloat. Then you have to factor in 5G fund who want their money back. They'll either have to pay them or issue a load more shares to them which of course they will sell.
What's going to happen if the court says they've got to pay 5G Fund their money?
"On 13 October 2023, the Company received a demand letter on behalf of 5G Innovation Leaders Fund. The demand letter notified the Company of an event of default under the Subscription Agreement resulting from, inter alia, the application for the TSP Order, and requested immediate repayment of the US$1,336,000 outstanding under the Subscription Agreement."