Most of market cap covered by cash. If Proger loan repaid in full, that dwarves the market cap. Fortunately, the operational side isn’t a complete disaster so shouldn’t be sucking up too much cash. Would like to see something fresh once Proger are done. Will get the market interested if there’s a solid plan for the money as Ukraine seems to be dragging them down with production/licence issues.
Thanks for that, pal. Lots of potential here.
Small taste today of what’s to come. Any kind of sustained buying pressure and this’ll take off.
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Great summary. Management are “promotional” so no engagement with retail or rampy interviews or PR fluff RNSes. When Proger is resolved, that’ll be a good catalyst for discovery and this should rerate hard and swing the other way as it’s done in the past. Sit tight.
Holding company is management’s vehicle. If the OpCo is so great, management can get a dividend or loan to repay CAD. Or there’d be plenty of banks or investors who’d provide capital to take out CAD.
Dog of a company it seems.
Gigafactory demand and lithium shortages — https://oilprice.com/Energy/Energy-General/Gigafactory-Demand-Leads-To-Price-Explosion-In-Battery-Grade-Lithium.html
My mood changes from day to day but ultimately it’s the best step forward now as WA gold is still hot so even if it’s not the best in terms of grades, there’s still some hype left. However, it’s just BS from brokers who want them to focus on this. The sleeper hit will be their lithium assets and patented production method. When lithium gets hot again, these guys will pivot back to their first love. So positive on NGM but not the Mila management who hopefully bow out when this deal is done. On lithium, posted before, but check out the resources on https://renewables.webnode.com/lithium/
It’s all well and good pasting in new contracts but if they’re begging for extensions like chavs with maxed out Klarna accounts, they’re obviously not swimming in cash and no one else is looking to invest and clear out Cadogan’s interest.
There were no signs of it ever being exercised. For a start, they had a board coup and out in Fady the Useless. Previous updates stated they didn’t have the latest numbers from Proger so they’ve been messing them around for a while. Then we had the recent RNS that they’ve “reminded” them about the repayment date which is pretty blatant they just want the cash.
Process is for them to pay on the repayment date. They didn’t and it’s an event of default so CAD are entitled to enforce their security. They’ve had two years to get ready and had a reminder letter recently
MTFB. It took these guys 5 years to get to this point and they went back on everything they said in the IPO prospectus. It was meant to be about taking stakes in projects and getting them up the development curve so that private equity were able to invest. All in a non-dilutive way. Instead, they ****ed all the money away, did a death spiral and bought a fad asset.
This company is run by men without testicles.
Appreciate the effort and most importantly sharing with us here.
So won the tax case, lost the licence case. What a palaver. Grab the Proger cash, dump the third world assets and SPAC up in the CBD sector. Looks like Fady is turning out to be another useless mouth breather
Friday or Monday. Funds received. Discussions to re-negotiate/restructure. Taking legal advice to enforce security. Interesting times.
I highly recommend contacting Brandon Hill Capital and indicating your interest. You could contact the company and ask to be involved in a direct placing. They will most likely rename to NGM. If you have a private client broker, ask them to keep tabs on your behalf. You can watch the RNS releases as they usually will announce a prospectus release but the fundraise may be advanced at that point.