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Bangla, I think you have misinterpreted my post.
The post was directed at MrTwisted and his banal comment.
An accretive raise is done when the price is a lot higher than today leading to bigger things because of it.
I have been here for several years by the way under a previous name.
Searcher, Phulbari, Tiggy, Pappiklon and the late Marv are all known to me.
Going back to that Cazanove note, I actually threw it out late last year but a share price of £45 was mentioned at full production in year 8. I think £12 was the price on approval and start up. But as we have said, parameters have changed.
Wise Owl
I don`t` think we will see triple digits for some time yet. When we talked of the £10 party several years ago, we only had 51 million shares in issue.
The company is difficult to put a value on now, we have 5 times more shares in issue but several by-products available and a solar park.
We are a world class mine with a path to market. If you look at another world class resource which hit the headlines recently-HE1-they have a market cap of around £80 million, I think we could reach half of that on approval, something like 40p a share, give or take. My calculations are not the best but I certainly think we will ten bag at least on approval.
My guess is that things are further on than we think or Phulbari will be given the go ahead pretty quickly after the proposal has been submitted.
Hasina will want to see some sign of benefit before the next election, whether she stands or not.
The requirement for extra finance by March/May is the next clue, that will be crucial to how we move forward, more importantly with who.
Has Amit done a runner or .....?
A very clear and concise explanation Phoenix, many thanks for that.
After looking through the CEO statement, there are two dates mentioned for financing, March and May. The raise will be for working capital purposes. If the proposal has been submitted prior to these dates, financing should not be a problem.
IMHO.
Everyone is becoming obsessed with delisting.
CTW was only a stop gap. There are replacements already lined up. WH Ireland know what happened at Polo and are making sure everything is bona fide otherwise they will be tainted with GCM and any misdemeanours.
As one or two have said, there has been ample opportunity to take the company private.
As for the proposal, it looks like they are planning a submission soon, after that it is anybody`s guess how long approval will take. Hasina will want the populace to be given a chance of making some money or at least some of her cronies.
The required financing in May will probably be some deal cut to sort out the partnerships.
1984, I stand corrected, but you know what I mean.
Regards
Apologies, I will change the legal advice to professional advice.
The person I spoke to thinks Amit would have to be diagnosed with some mental illness and plead insanity to get off with this.