Member Info for theiceberg

I didn’t. Who said I did?
Anymore negative articles you want to post? Maybe something else from libc.

Just easier sometimes. Particularly if your on the phone. The thread system on this forum is a mess anyway. Equally I don’t think it matters

“The Company will now focus on completing the Front End Engineering Design and remains in discussions with several additional parties with regards to securing the remainder of the Construction Funding”

Ie they are looking at additional to existing shareholders and funding contributors. I don’t believe he said that they want to tap existing ones.

Going through at 70p

I fully admit I’ve mentioned that Bcn have lots of possibilities in Hanwa, open offers etc.
But Bacanora seem to be insisting today that a “new” investor to fund capex is coming on board and I’ve got a feeling they are likely to be German.
I’ve not discovered yet who they might be but I don’t think it’s too far away from being announced.

I am very perplexed by the trades. On the face they look like sells, however the early morning 100k might well be a buy gather in the first 10 mins or so, at friendly prices.
The trades often have a little silly trade around them. The trades also seem to precipitate a raise in price. This could be the sell being covered so then declared.
I wouldn’t be surprised if the short players tried to halt any potential rise in the sp, by trying to blunt it. It hasn’t worked

So obviously the right thing for the company to have done.
187k shares gathered to close the short. Only another 1.8m to go.

Highest bud and sell price for a little while. Wonder why they need shares and are pushing the bid up. :)
They must be annoyed at the lower volume. Push that bid and ask up please

I honestly don’t see a takeover. Hanwa want the lithium. There is little point in a takeover which just gives all the lithium to Hanwa for the next 5+ years. Hanwa won’t agree a takeover that takes away the lithium.
Folks need to remember that Hanwa probably already have word of mouth contracts for the lithium in 2020. They need it in 2020 as they are a lithium trader.

The book wasn’t just cancelled after 2 days. It was a 48 hr rapid book build that closed yesterday.
My understanding is that last week the consensus was for an 80p book build. On Tuesday seeing the fall in share price 2 or 3 out of the 6-8 invitees changed their price to mid 60s. Cana put the option to the board yesterday afternoon and they declined to go ahead at the price of mid 60s.
I am almost certain that Hanwa would have vetoed it.

Further more since the mid 90s, news leaked, probably from the leaky WH side. That a very large placing was going ahead. Shares totally 2-4m have been sold into the market to take advantage of the down price. These where likely borrowed. The bod would have seen this in play and been adviced by Cana.
The big question is how many of these need to be brought back?
I’ve had a big smile on my face all day as the chance to around 70p has been fantastic now over the next few weeks we can see the price go back 80-90p. Whoever has sold the shares had better hope the bod don’t pull a quick plan b out of the air, something I am sure Cana have already started to put in place.

Lots of options.
Increased open offer to raise 40-50m.
Private placing to the higher end of the book. 40-50m.
Hanwa deciding they don’t want lots of others involved and forward funding offtake.
New investment or partnership.
Selling a share of the license area. Ie offer 20-30% of phase 1 and they take 20-30% of capex. Plus an initial down payment.

The books was a good solution, but only at the right price. If it’s not the right price turn it down and on to the next option.

Shares below 70p imho. The big sellers dried up, obviously.

It’s a company actually caring about shareholders and their interest.

Remember the company cancelled it because they didn’t want iis buying at this price. A gift for smaller pis then I’d they can.
This was pulled by the company via Cana under instructions not because of lack of interest.

Very complicated situation but was 100% the right move.
I wrote two lines yesterday saying Cana can cancel it and plan b will be used.
Plan b is/even now in the works. This will have been cancelled with the blessing of Hanwa and even at the asking imho. Hanwa want one thing our lithium. They will not want a company to come in, take control and say thanks but no thanks to them.

I am really excited re the partnership deal coming.

Re share price. Remember some idiot sold 2 million shares post placing announcement to try and get cheap shares. This has back fired mightly. They have sold a load of shares at a loss and won’t be getting them cheap now.
Squeezy bum time. Will the sp rocket or will they get them back cheaply.

No it’s the opposite. Most pi books or offerings are secured ie unwritten and so WILL go ahead and not be cancelled. A fund manager will not pick up the phone and collude with another fund manager, particularly when Hanwa is a director on the board, again that would be illegal.
Not trying to be difficult but you seem to be talking out your ....

Ie if the price for the book is too low, Cana will have instructions to cancel it and plan b will be executed.

But it doesn’t work like that in this case. This is about putting the iis against each other. If 6 of them say 80p and the 7th 55p then simply Cana will discount the 7th and they get no shares. The price that Hanwa and Blackrock etc have offered will be known and discussed prior the book opening as will the invite to the new German participants.
Re selling at 80p etc this is completely illegal. Nobody would risk that as it would be immediately obviously to the share register which would include crest account info.
I don’t know what the price will be but this isn’t anything like your open book offering.

Both the book builder and uk placing agent are sat on the bid happy to hoover shares up

But what’s the price? Should be announced tomorrow pending any last min complications.
Please note the book areas Germany, Far East and Australia and uk.
I am very interested to see which German company has been invited to the book build.

from yesterday showed up at 74p. Kind of indicates that the book might be running above 74p unless it was simply a deep pocketed PI.