RE: Iron ore20 Sep 2024 11:44
Just to complete the circle for those with chips on their shoulders, here is my original e-mail:
"Dear Mr. Robertson,
Thank you for the updated Alien Metals presentation, it appears a more professionally presented, more detailed document than previous versions.
As a shareholder of an eight-figure number of shares in Alien Metals, you will appreciate that I have a vested interest in the progress of the company. To date, it has been very disappointing to watch the company’s share price decimated especially when you repeatedly refer to your aim to generate shareholder value.
I am intrigued to understand how you expect to be in a position to finalise Hanc**k funding in this quarter when you do not aim to have secured all permits and licences to mine Hanc**k until close to quarter four end. How confident are you that those permits/licences will be forthcoming?
I am also frustrated by the presentation’s repeated mantra of JV’s to avoid further dilution when you have had two placements in as many months, the most recent being only last week. You also stated in last week’s RNS announcement that is was highly likely a further placement would be required by year end if the ongoing partnership discussions do not bear fruit or are delayed. Whilst I appreciate the openness, strategically, one must question such a statement as its only outcome will be to drive down the share price.
I now wish to turn to the convertible loan note announced in March this year. Have any of the three tranches been drawn down? If yes, how many? If yes, have the quarterly repayments begun? If so, were repayments paid in cash or with shares? I am concerned that if tranche three has been drawn down, then the company is being run by a third party and perhaps not in the best interests of all shareholders – are you able to offer reassurances that this not and will not be the case?
I appreciate that you are not able to reply with market sensitive information but would appreciate a guide on your level of confidence in the future of Alien Metals and that you will avoid sending the share price into a death spiral.
Kindest regards,
Philip Carpenter. "