Member Info for theiceberg

been doing my final top ups at around 70p this morning. I am convinced it will be higher than 70p, so this seems silly cheap, considering the open offer as well. Share price finally moving up and above 70p now as the buys come in and the private smaller sellers remember thats its stupid selling a share at a loss!

yep, sorry type whilst on phone.

Yep different parts of the journey. Bcn have had to raise over third of a million in the space of a few months without any profit on a lithium extraction method from clays that is the first of its kind in the world. That they’ve done it at all is a small miracle. That they’ve raised 3 times their mcap only giving away 150% new shares is a larger miracle.
For Sav it shows very nicely that funding is very much available for a cheap highly profitable lithium enterprise. Funding won’t be a problem for Sav.
Although asx was the first train to leave, the lithium express, aim will imho be the train that accelerates most over the next 12 months. Aim is far easier to get funding and a few new lithium aim entrants will be on the cards.

Vwap won’t be used imho. It’s a book so it’s whatever folks say they are willing to pay and the min price used to get the book covered for 100m dollars

This has been on the cards for years, since it joined aim tbh. It was actually the main reason for joining aim.
Equally a fall was certainly possible. A fall to 70p is kind of ok in the grand scheme of things.
This share will, for the next 12-18 months have lots of games being played. Pretty much every holder will have to issue a holding rns next week so amounts should be easily known, unless it’s below the threshold.
Below 70p shares are being brought my none privates, so the book looks like being 70-80p imho probably nearer 70p. There was obviously the hope it would be 80p imho but the market says otherwise 300 odd million shares is nothing for a company that had rises more than one third of a billion.

What’s volume got to do with anything?
It’s not a bloggers/flippers placing. It’s an invitation only to 6-8 financial institutions that want to invest in the worlds hottest new Greenfield lithium miner.

I agree re ceo speel. Never invest for that reason luckily we have the fact that Bcn have raised a third of a billion in a tight market. You and folks can ignore the biggest best aim fundraising for a greenfield site but I certainly am not.

It always is on these drill results then suddenly the market wakes up, probably when we have a jorc. The drills look they have added at least 50%, buy we will see.

Confirmation that the placing will be finalised, announced and released with placing price this week.
Probably thurs/Friday. But slim chance prior to this.
The majority of the shares have gone to existing share holders(“long term”). Very few shares to actually enter the market and very few to flip.
Very glad it’s not going to be long and drawn out.

Heard a rumour that they will be building stage 1 and 2 concurrently with stage 2 going live 12 mths after 1, this would save some money. Might explain why a slice of funding is back to q1 2019.

Added a few more as well. The open offer is a good reason for me and the price is cheap. If it drops to 70p I’ll have another 10k, but don’t think it will.

A night to digest and get some good exposure a strong start to tomorrow should follow.

It will be down to the iis. If an Ii offers 20m at 80p for shares and another offers 20m for 70p. Then regardless of current sp the one offering 80p will stand a much greater chance. I wouldn’t be surprised if already 70-80% of the book is filled and it’s massively oversubscribed.
The open offer looks like being 1 share for every 10-20 held. So not very large but free money.

Some fantastic bod dancing to get this all agreed. I have openly been scathing of the BOD in the past, but the complicated nature of this funding, Bonds and interest, open offer, minimal dilution, no selling guarantees and further off takes for stage 2, despite stage 1 having not been started yet, are all outstanding and exactly what I've wanted and they deserve credit for it.
Remember over 17.5k tonnes for a few years and then 26k tonnes of lithium already sold now each year until 2030. Over 2bn of sales already agreed.
Offtake agreement being the obvious funding for q1 2019, close enough that hanwa can give a realistic price for 2020 delivery.

we have lift off, construction has/will start now and a total of 340m paid or pledged. A further 120m to come q1 2019, but this is likely to be debt not equity related.
It looks like a complicated state of affairs, however the actual dilution is likely to be less than many thought $190m of dilution. i.e £150m or so. with a commitment that nearly half of these shares wont be sold until 2020.
I like the small open offer as well, something i have asked for on here and something i certainly will be taking advantage of. Remember if you don't have shares you can't take part.

the book build for the $100m (£75m approx), looks to be interesting, i wouldnt be surprised to see hanwa, blackrock etc taking part. The prices etc obviously not agreed yet, but this is likely to be very good news. The SP should respond as the construction gets underway, so less dilution.
So loads of funding. Bonds. less dilution than almost anybody though for 2018. Construction starting and cracking on.
Very very positive.

market makers sat on 80p on the bid, something tells me this is either the price, or just below the price of the share issue.....

very good indeed the extensions over the last 6 months are outstanding. All in the PIT area. Anyone noticed 80 and 81.... we've had the drill hole results post and prior these drills, but not these. They show intersected lithium on the cross sections but....
They are also crucially an important extension as well to Grandao.
Finally the drilling should be sufficient to move a body of resource into the measured column as well.
Still a little disappointed that the Feaso hasn't been started yet, but you can't have everything

When it’s in production in 18-20 mths time and is making a shed load of money each qtr the market cap will readily respond and will even start to factor in phase 2 due to it being low risk. 1-2 Bn readily achieved.

It answers my question whether any are above 3%, it would have been nice to know who they are !.

Another question for anybody re placing, why two book runners?
The fundraising was invitiation only, oversubscribed and had big investors and LTH's. Why pay twice?
Also importantly how much did we pay our book runners?

I am expecting some holding rns’s.
I am genuinely happy about the fund raising. The only two points, after watching how it’s panned out are. The amount of flippers there seems to have been from 12p downwards. And finally the leaky ness of wh. I am not a fan of them and think that David could do considerably better than having them involved.
From this point onward unless it’s an open offer, any placing needs to be with existing long term holders or iis.

Also remember that the market makers had to push the real bid up through the day. When liquidity started to dry up the bid was raised until enough liquidity came into the market. Pretty much all of the sub 90p liquidity has come and gone now though so further large buys will require more raising of the bid.