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This is the big rub though at the moment guys,the date of 29th March.
Do you think that extension of the waivers might be conditional on the new interim raise ?
I.e if that doesn’t go ahead before then,then no more waivers ?
The reality is that the banks knew many months ago that the build was going to take a lot longer.
Also just a wee point for all those that are saying Glencore have total control of this-they do not.
If LM and Orion so wanted they could come to us remaining 49% to vote a motion through that was actually in their/our interests and it would likely be passed making Glencore the minority
also not phased billy
i find it interesting that they have shot over the creditors bows in this one by adding them to the list of people who could end up with nothing if they are all too ****y.
the creditors definitely come behind the banks-lol.
this has just added something positive -2 months more negotiating time whilst continuing to make the rest of us aware that we are going to get heavily diluted.
i will just say one thing-if the cornerstones were not pushing the banks really hard,none of this would be happening at all.
they are imv pushing as hard as they possibly can on the additional debt front from the banks,otherwise they would just fund it.
Point you are missing Rob is that these guys have the funding.
Do you get that ? They already have it !
Glencore alone could fund the lot.
La Mancha withdrew $100 m from another Brazilian deal literally 3 days before our terrible announcement in October and Glencore the same.
Orion also have massive bank rolling capacity.
It’s just about what they want to do and how much they want to lose or risk losing.
I think that the banks are giving our cornerstones a hard time in agreeing to lend more in what until about 3 weeks ago was a very bearish nickel market.
Things in the market are becoming clearer and more positive.
Let’s see
Honestly Wasa,they could send a whole load of signals if they wanted to push the share price higher.
There will definitely be some positive stuff they could have already released imv but they haven’t.
Don’t know if you saw a post by chopper on advfn a while back ?
He declared openly that he had previously had some involvement with funding discussions but not anymore.
He said that a figure of around the 7p mark was postured at some point and that it would not trade at that once raised-more like 3 times that amount which makes total sense with PNAV 0.4 when raised.
It is being bourne out as we probably will very soon have a 3 month weighted sp ( “fair”) of 7 p.
Let’s see
And that’s why I think they are pushing this to the wire with the banks Rover.
The comment about buying more time to negotiate,possibly needing protective measures to do so and strike “balance” with the perspective means that they are negotiating hard
Billy-I wish you wouldnt do this timings stuff and comments on corporate goings on-it’s most unnerving.
I now feel set up to be disappointed
How would you know all this stuff anyway unless you were a secretary in the offices-lol
We have another raise required before mid April right so that might give us a pitch on where we are in all of this.
I would have thought that there just have to be new investors interested right now.
It’s a technical no brainer and anyone who invests in metals projects will know that
Apart from anything else 60% of the world’s nickel supply comes from outside Indonesia.
It’s just rubbish what the press is saying about wiping this all out.
If you do that then literally you will have the biggest deficit ever experienced with rapidly increasing demand.
One can’t help feeling and pretty much we know that a lot of these banks/commentators are short Nickel.
The whole thing is a self fulfilling prophecy for Nickel price in excess of 16k per tonne on a long term basis as bare minimum.
Https://www.cityam.com/why-the-nickel-market-is-suffering-on-a-consumer-steer-away-from-evs/
16.5K would be a very solid price both for Araguaia and Vermelho even long term and as we have seen over the last 6 months even the bears for Nickel are not calling that after the end of the decade.Everything is caveated with that at the moment.
These two projects we have here as we all know have 40 year mine lives not just the 5-6 till the end of the decade and at 16k nickel 50% of the worlds nickel mining projects are losing money.
At 16 K Araguaia is very profitable.
If they ever did adopt an electric mining fleet here the opex savings would be huge over LOM for both and I think should still be given some really serious consideration