Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
So to clarify - the FSDEA were not expecting to be paid back today but at point of main financing (which I assume in Feb was thought to be completed by today), subject to some further detail probably, and have agreed to this in principle (probably some extra interest payment or some such no idea).
Sorry 27th June 2023 RNS not August (did it from memory):
"FSDEA has agreed to provide an initial US$15 million loan facility as part of a US$80 million investment (which is subject to due diligence and the finalisation of investment terms) and which will be repaid out of the larger facility, for the US$200 million staged development. "
So, in any event, the FSDEA are not expecting to be paid back until the main financing is completed. Hence, imo, FSDEA have agreed to this extension during those discussions.
Happy to hear opposing theories...
MAA86 - that's not quite what they said:
"the Company is pleased to report that discussions have been held regarding the extension of the loan facility to coincide with the anticipated finalisation of the main financing. The Company will make an announcement as soon as these arrangements are finalised."
The agreement is that the loan has been extended to coincide with the finalisation of the main financing. Whenever that would be. This is a good thing. In addition, the lender would then not expect, imo, the financing timeline to be longer than the extension already given (from 28 feb to today). And as at that point the extension thought 19th April acceptable, then surely we are within a relatively short amount of time for the project financing, especially as no next date has been given..
Also if you look at the August 2023 RNS it did say it would b repaid as part of the main financing package in any event.
Good to go from here imo.
Someone said they've known for 2 weeks about being granted the license and that they are finalising a JV. I think the license plus JV will be a big thing because it means the financing has been sorted as well which is usually what stops any rise
Won't be per harvest that won't make sense. either strain or a general license with spot checks / samples sending in for testing I would have thought. If it took a few days then sure per harvest but so far it's been a month or two and it is imminent.
Ah no it isn't at least the AGICO Group in China doesnt appear to have any links with the AGICO Group in Poland. Potentially after this first FTU the next ones could be larger, which means they could be manufactured locally and then pieced together on site. Anyway, just good to being able to comment on this one after being in it for so long.
GLA
"by AGICO of China, is now being shipped to the Company's Technical Centre in Bridgend, having left AGICO facility on 15 April, to meet the shipping vessel on 29 April 2024."
So loaded 29/30th ish and then 45 days to Technical Centre, so looking around mid-June - give or take some delays then by end of June engineers will have started the installation. Don't need to rush it - do it right - as we have time for the gas systems from DE.
Yeah I don't think it was from Poland, as surely wouldn't take 45 days from a port of Poland to the facility. But if it was... if there is a facility there just not the prototyping which came from China, then surely that is brilliant. Can you find out, Patxaran, if it is a subsiduary if they are able to make them there? Having a European manufacturing facility would be massive.
? 09-1.1 so not sure what you are looking at - this is CGO. Perhaps the brokers came in late, and you're looking at 15min delayed data so you'd see the first ones on the bid/ask from 7.50 (and there are ones which are 0.9-1.4 but currently:
0.9-1.1 (top of bid/ask)
0.9-1.2
0.9-1.3
0.9-1.4
0.9-1.4
0.8-1.4
Not quite right there EbbsandFlows - just means they aren't preparing the accounts as they released the interims end of Feb 24 so a good few months to go before annual accounts prep. Not sure how you link a NED buying to there not being a closed period linked to no news expected whatsoever even though they just told us they are working on many different avenues. We had that update yesterday so that's the current information in the market. Q2 clock for offtakes ticking.
If offtake agreement or other business progression then yes they can. obviously. Otherwise no BoD or NED would ever be able to buy any shares in any company on the open market as in any normal company there should always be some price sensitive work ongoing!
Tradylioar - sooo.... the employees at the mine are also culpable for this "lifestyle" placing? Pretty sure they do an honest days work, get paid for it and quite rightly so. Not sure that constitutes 'lifestyle' placing for these. The BoD deferring of course - and yes I know what it means but please, continue to try to spin it. I'd agree if they hadn't managed to get a mineto working order however they have done that too and the proof is there... So even for the BoD, not really a 'lifestyle' company either. Currently they are not drawing it. When the balance sheet looks better they will get paid (and creditors on the loan). That's how it is. Good on them. Got 2bln tonnes of coal for making steel, at a pinch thermal coal (less margin though as stated).
Until then: GLA - offtake agreements (with actual deliveries) for the win. Clock is ticking.
Tradylior - "The Board has been unilaterally deferring its remuneration since the start of Q4 2023 and will continue to do so until such time that the Company's balance sheet is in a more stable position."
Guess your statement is an untruth :/
Q2 is the make or break here. risk and reward. 1p or just under seems a pretty good risk for the reward imo.
GLA
Looks like it's all about Q2 for several offtake agreements. BoD want agreements done during this quarter of 5x the MNC volume. Plus possibility of JV/project sale. Funding will last for Q2 so should be either boom or bust. There was activity on site as stated. Placing shares already baked in being at 1p - now we know why the SP was dropping on minimal sells.
imo good to at least get an update - and all that BS about being taken private was just that. BS.