Member Info for Lucando

Something appears to be happening. Bid is moving up

nm

"The current Inferred resource is included in the Pre-Feasibility Study"

This statement is very interesting. Has the PFS been completed?

So we seem to have four milestones to achieve for the next tranche. These being the open put design, PFS then the two relating to share price and VWAP. How likely could it be that these could be met relatively soon and why do the company feel the need to amend the terms? The two the company have control over are the open pit design and PFS. Is it that they are concerned about the VWAP and share price and feel they cannot meet these milestones?

Good RNS

You aren't bothered about the short term outcome? Are you reading the same RNS? Its basically saying that they will have to shut up shop as they don't have enough money to continue if they cant adjust the terms of the riverfort financing.

So basically they are trying to amend the terms of the loan as they cant meet the milestones. Doesn't look like the PFS is coming anytime soon. What a joke.

*pfs

No there is no guarantee that the of a will be this month. The loan conditions stated that the option to draw down the second part of the loan exists 121 days after the first draw down. However, in order to draw down the loan the milestones have to be met. In essence the company is under no obligation to draw down the loan at a particular time so until they want to the milestones may wait.

Are falling off a cliff.

We basically have the loans it seems

And what is occurring then?

Can't understand shorting at this level. The PFS could be released at any time and then a lot of people are going to get seriously caught out. Maybe shorting when it was at 44p would have been an idea but at this level it doesn't make much sense

I really don't understand this finance deal

nm

Updated again

* crede

Quite interesting. As far as the company are concerned Crewe still retain their shareholding

"If the Company elects not to make a repayment of an installment, the Investors can elect to convert the installment into new ordinary shares in the Company at any time after the date the installment was due." It doesn't have to be converted today.

Will we get an RNS on this?