Member Info for JohnHenry

Wow that is simply mind blowing amounts. No wonder they dont give a 4x and no skin in the game.

If they can no longer draw down on the senior debt then they are toast.

Additionally, despite being approximately 65% complete a number of risks still exist around escalation costs linked to several of the major construction packages (these include labour, materials and productivity). This could result in future drawdowns on the senior debt facility not being permitted and require the Group to pursue alternative sources of funding to meet its commitments.

Not Quite Joey2000 From the Interims and confirmed in a recent presntation.

As at 30 June 2023 approximately 65% of the Araguaia Project construction has been completed, a total of US$329million has been spent out of the budgeted capital requirement of US$537million. As at the half year end, the Group had total liquidity and funding sources of US$344million.

TyreTread its the uncertainty the RNS has left.Do they need $200M $100M $50M ???

Before a bottom to the shock news.

Agree NickNorth Volume would indicate no talks and no movement on Testing, Operations update would be good.

Of the shares traded today hardly a mass exodus, imho Margins and stop losses hit today MMs cleaned up.

If their intention is too take the asset then absolutely they will destroy the stock.

Imho the CFO and CEO will have too resign or be sacked.

CFO states in the presentation they have $344M of further liquidity.

Surely the CFO had knowledge of a potential 35% funding short fall 1 month ago.

Blatantly misleading investors.

Well i just listened too the IMC presentation from a month ago. Well im shocked that within a month they've announced todays RNS.

Surely the CEO must be held accountable.

Traders in from mid 40s taking profits very little volume above 53p.

Lets not forget the 3 day rule.

After a shock RNS market takes around 3 days to clear.

Sp will almost certainly test 45p again in the next few days.

Results have set the tone, SP will continue to drift for a while until a few months of full production are under the belt.

Im guessing BENs historic performance, certainly 2023 has been one disaster after another will keep investors away until results show otherwise. Aimho

Would appear the market has worked through the Margin calls stops losses and panic selling.

Banzai if you read the IPO prospectus you will see that they are way ahead of schedule.

Gave no indication towards todays news.

Im guessing theres quite a few being called in.

Agree ANT why put out this RNS without financing in place unless the financing includes a placing around 50p

It wont until the company come clean with the funds needed, my guess is the market is pricing in $200M