RE: Rainbow chasing by LC again30 May 2026 09:16
Chatterer...
"If JLP don't NEED the money, why does the RNS state that they're taking the money regardless of the vote's outcome? Surely, if this is all about this wonderful investor bringing their expertise, the money would only be taken as an INVESTMENT and not a LOAN?" "the money would only be taken as an INVESTMENT and not a LOAN?" I really have no idea what you mean by that.. what would he get for his INVESTMENT if not a share in the company? The investor is wanting shares and a CLN is a way of getting them that avoids the uncertainty of buying in the market but relies on it being converted to shares. This requires that the authority, WHICH IS A STANDARD REQUEST BY EVERY COMPANY AT EVERY AGM, Rolls Royce, Tesco, Barclays all do it, to issue shares is in place. If it isn't then the preferential rate of interest on the CLN "will be increased to align with interest rates on typical medium term unsecured loan funding and the loan will be repayable within twelve months after the drawdown date." So if, in the very unlikely event, that shareholders are foolish enough to vote against granting the power to allot shares to a High Net Worth individual with a demonstrable track record in developing mining assets, who represents a ready source of investment, and who could make a strategic and operational impact on the rate of progress of Molefe's development, to the benefit of ALL shareholders, then as compensation he will receive a market rate of interest for just one year, as compensation.
"P.S. it's actually $11.5 million." No, it isn't. It might be in the long term but initially it is just $1.5 million. As usual, you attempt to twist the facts to the worst case scenario...