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It's quite possible that a deal was struck with Calibre weeks ago. They can't sign the paperwork until Calibre is happy until their cash raising activities are complete and the money is in the bank account.
If we have not heard anything by the end of next week, then I think the recent rise in sp has been a false hope.
The interviewer asks Ryan King as to how much more capital they will need to finish the project. RK answers by talking about various figures relating to the history of Valentine, etc. but doesn't actually give an answer to the question. Maybe he is hiding the fact that they have cash waiting for an acquisition.
The interviewer (maybe by prior agreement) doesn't ask about any possible acquisitions even though RK states that the mill in Nicaragua has spare capacity.
I'm surprised and disappointed by the SP performance today. Maybe we will get some brokerage cover over the weekend. An updated corporate presentation detailing the timeline to production would be appreciated.
They are OPTIONS. The holder has the right to buy a share at 30c. So worthless at current prices, but 10p profit for every option exercised when the sp hits 40p.
Pretty standard to give directors share options, they will be rewarded if sp goes up.