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Emerging scenario, they will try to raise cash from subsidries or sell Aguira, $733n spent on Ag, aleast it should be sold $700m, and $300 should be distributed to shareholders. And Vermello can be developed later on
418m debt, some one mentioned here 150m is not drawn yet, so net debt 268m, if Co goes into admin interest payments will disappear. £258m spent by shareholders. Funny enough, BoDs is only talking about Aguira, not Vermello, and RNS says, no recovery for shareholders
Nickel once went through the roof on LME, mainly Geopolitical risk from Russia, even if Sponge Bob wins the White House, Russia will remain and is a challenge. In a step by step approach, Industrialised Countries will stop buying Premium Nickel from Russia, India is not that big consumer and China already tied up Indonesia. On internal front, La Mancha is aligned with shareholders, assets disposal can generate value for shareholders.
Total funding package so far secured is $700m, equity raise+bond holders+banks, some of credit facility is undrawn. In recent RNS, ctc is increased but how much more they need? Around $250m shareholders funds, anyone interested should pay $250m and take it private. Metals will rise again like nickel and palladium especially
Shareholders money around $200m already spent on project, that has definitely increased projects npv. Total debt as if rns $418m , some of which is not drawn yet, of which 89m is noteholders. This new extra 600m is overlapped, so ctc is around 800m , not 1 billion, detampers are consistent with BODs hefty cost projections.
Wasarunner, It’s not that complicated, any new investor will be at major major advantage, ant the same existing ones can also keep their percentage same or Glencore can further increase it. Nickel has to rise or average around 26k IMO. Still very much inclined, a bid will land above 70p.
Bonds conversion was at 8 or 9p, which after consolidation makes new rate at 180p long time ago I had calculated. Gold is having good run. History suggests laggards will follow. Low ball offer at 70p seems very likely, La Mancha is just a trader, not producer.