George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
DRC Update overdue/imminent?
We have been in constant communication with our country representative, our lawyer, and our local partner and matters to resolve the above are progressing. We hope for a further update by the end of this week or early next week.
Monumental drop…doesn’t look justified at all, settlement according to below article sees Esken reduce stake under 50% but market had assumed stake slashes right down to single digits. To will tell of course dyor
According to this article today…Aviation business Esken revealed today it has negotiated a new deal with creditor Carlyle and Cyrus Capital Partners which would see London’s sixth-busiest airport apply for restructuring proceedings, and Esken’s stake reduced to below 50%.
https://www.standard.co.uk/business/southend-airport-owner-mulls-deal-to-settle-debt-dispute-but-lose-majority-control-b1139966.html
It’s clear they are now very low on funds, placing is coming question is at what price. This seems to be going very much like RUA, ended up with a very heavy discounted placing.
They’ll then want another couple of million on top for working capital purposes!
Shows the investors have zero confidence now that diamonds are coming anytime soon…not buying it anymore..
In order to show good faith towards repayment of the Creditors and to provide a possible solution to the Company in the unlikely event of enforcement of security in favour of the Creditors, the Company has agreed with the Creditors to request Shareholders for such additional authority to issue shares as will, at a margin to the current share price, enable the Company to raise up to US$9.4 million so that the Creditors can be repaid in full. The Company therefore is requesting Shareholders to approve the grant of authority to issue shares which, if issued, would raise sufficient to repay the Creditors should it be necessary to repay the Creditors by this method..