Member Info for tomcat-14

over 33% uptake... that’s good for the asx... hastings couldn’t even managed to get 20%...

https://youtu.be/MLdAPX5yhoQ ...

dirty rotten scoundrels...

they have to have it by the end of september... 9months after the accounting year end 31dec...

tftr... i was / am edging the other way... but can see by the disclosed terms why that may be the case...

is the 20% premium on the 20day vwap set to the sp at the date the debt funding deal was agreed... or is it set on the date that the warrants are exercised...

you’ve got me thinking there now... the rns is explicit in describing that the funding is ‘for the development of Stage 1 of the Sonora Lithium Project’... the 326,600t lce scheduled from stage 1 @$160/t... covers most of the $56m bond value... stage 2 ???...

yes... it’s as stated... 8% +3 month libor... the second bond is interest free... but paid over a fixed 20year term... @$160/t lce sold... which... if you ask me... is 1% the current projected contract sale price...

the 1st tranch is available for immediate draw down... the other two conditional on remaining fund raise... bit like stepping stones... big money coming from a numbers of sources... each going so far until the other moves with them...

to file the debt charge... independence day... visibility for the equity providers?... https://beta.companieshouse.gov.uk/company/11189628/filing-history ...

these loans are bonds... they have a fixed term and a guaranteed return... 8% + 3month libor per annum... minimum... bcn can’t pay them back early... why would they anyway... you guys have very small minds... open them up... the market wants to see this lil stage 1 pilot project scaled up... further offtakers for stage 2... 35ktpa to start with... and follow the market demand exponentially up from there... then we can start talking telephone numbers again... like lord coe used to...

i have every confidence that whilst it may not go as smooth as one could wish... they will get to where i’m expecting them to...

very exciting addicknt... got to be pleased with that?... and moreso if you and i can buy into the funding bonds... would that in effect give us a net zero debt cost... for our individual contribution to the project funding... the 1st one having a 6-year term gives the flexibility to advance the stage-2 ramp... the second is worked out based on stage-1 @17.5ktpa production rate only... so has an incentive of nearly 2x to organically ramp it asap... excluding any risk of production < name plate rating... unless the 17.5ktpa is already de-rated... ;-)

did you buy above or below the mid price at the time...

apologies again... invisible posts on lse mobile not showing up for some time... bannor 08:03... that rns you linked is dated 28aug15 announcing the tesla offtake... hanwa were announced on 10apr17... and completed their equity financing on 02may17... bcn couldn’t get the funding for the tesla deal... hanwa stepped in with an almost identical offtake... but for a disclosed amount of up to 100% stage 1&2 production at prevailing market prices... two key items of information that tesla prevented bcn from revealing to potential funders... whether conventional or unique...

i do think bcn are very very poor on the market...ting side though... no real effort to boost the funding sp... look how easy it is to tick all the boxes... http://lithiumamericas.com/wp-content/uploads/2018/06/LAC-PR-PFS-June-2018-FINAL.pdf ...

absolutely... endless options from here... ipo the 2-stage project with / without the respective mineral reserve mine area... before during or even after the funding is secured / stage 1 pilot plant is commissioned... could even farm in a funding partner via one of the new subsidiaries... or even farm in a lithium production partner via one of the other new subs... plenty to smile about... looking at the sp’s... anyone would think lithium from clay wasn’t even possible...

but do those levels of risk still exist now... the conventional process has been verified at scale... ask jl/lac/ganfeng... and there’s now two alternatives for getting from clay to lithium sulfate...

15% interest rates on the debt funding... who knows how much of the company on the equity... thinking out loud... that’s probably why bcn have trimmed the project down to a small 17.5ktpa operation from a small licence area... keep those risks to a controlled minimum...

it’s pretty clear that from the link at the very beginning of this thread... the banks think that lithium is priced too cheaply for the risk taken to commercialise a new mine and production operation...