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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.
Lot of money is already spent, imo projects NPV is up. Costs up is global phenomena. How much shareholders funds are spent? £100-200m , if Glen takes over at 300p, that will be 14 or 16p original before consolidation. La Mancha bonds conversion is at 180p.
La Mancha bonds can be converted at or around 180p, investment averages around 120-149 p by rough estimate. Glencore are also averaging above 120p.SP at 10p, project is near completion, even slight improvement in nickel price or loan grant will push SP above $, because equity raise is not a likely scenario