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Completely agree. Would have agreed about a year and a half ago! All gone very quiet on EGM...
NO, we do not
No. What has happened to the talk of the EGM? H1 is nearing its conclusion
If I had a pound for all the nonsense spouted by ABH over the last 3 years, I may even get close to recouping my losses!
I've felt for a while that, if they wanted, they could sell the remaining volume all the way up to 10mtpa with minimum fuss, given the margins that we'll be able to operate at- but this is all about not giving away any more than we absolutely have to, to get to where we need to be- i.e. Stage 2.
And the key bit around the 9 minute mark: "At that point, we would also be recipient of the government guarantee, should the process move forward successfully" Government guarantee as good as in the bag should we manage to raise the necessary money- personally i'm backing Tom to pull this one out of the bag
About 8.30 in is the key bit for me. To paraphrase Staley slightly: "We will spend the majority of Q2 gaining commitment letters, and spend the second half of the year satisfying any conditions precedent." So, I think it's pretty clear we won't be seeing any further TORPs until we know the exact level of offtakes we need to achieve to satisfy the lender's criteria. As such, I think Q3 could be quite a news rich period, to get everything in place to finalise ST2 during Q4. Hoping for a very merry christmas :)
Interesting that the banks are working on an assumption of a sales price of $125 per tonne, and the existing offtakes have been sold at $145 per tonne. Should give us plenty of wiggle room with any final negotiations to get that extra 2MTPA?
Suggest everyone has a read of ppvn�s thoughts on the other board regarding the shorts- hugely insightful
Can't see it being in June given that the co. is stating end of year, but i'd love to be wrong!
Humour is lost on some :)
Are we really satisfied with this though? Still they come out with comments like �in the process of�, it doesn�t actually mean anything! If I sent a speculative email to someone about a job I could be considered as �In the process� of recruiting them- it�s meaningless. Promising, maybe- anything of substance, absolutely not. Which is what I thought we all wanted?
So when are we organising the EGM for?
Staggered that there is still interest Dougal? They�d be morons if they thought otherwise. Nice little side effect of hundreds of PIs losing small fortunes
Email sent. Fully behind this now. Thanks K27M for taking the initiative here and getting us going
All in favour of having the accounts independently audited, but who is going to volunteer to pay to have it done? As i'm sure Amit won't dip into his pocket for that one! It's all well and good voting something like this through, but when it comes down to it, who is going to reach into their pocket and throw more money at this? As a result I wouldn't feel comfortable voting for something i'd personally be unable to pay for
Agreed HITS. Not sure what I have to lose at this stage- I have zero faith in ABH to give me any return on my shares, so I see no harm in an EGM.
I think your words hit the nail on the head for me Brants- the direction of the company has moved, but there's no great clarity about what's actually going on- it's all based on what our 'leader' has said, and I don't think anyone will trust a thing he says ever again (I certainly won't). Not nearly enough to base an investment decision on. I'd be happy to get my money out, or whetever's left of it
Some of the sentence structure and grammar is appalling