Member Info for WelshFalcon

Yeah, but we might even get to build our own train set in the Paterson.

Ignore the trolls they don't last long in the Paterson heat!

So, we've effectively 'sold' some of our toys for $23m. (the Juri JV toys). BUT.

We get to still play with them.
If we find out that they were worth more than we got, we get to keep 25% as well.
We don't need to find our own cash to play with our toys either.

Nice life if you can get it!

But with subjectivities. Until these are sorted, he hasn't.

Oh dear, go back and actually read the appointment RNS.

He is not there yet.

"The company anticipate that the Executive will be appointed as CEO of the Company by no later than 15 November 2021. The Executive's employment pursuant to his Executive Services Agreement is subject to requotation of the Company's securities on the ASX."

The 15th deadline has not been reached yet, ASX shares still suspended. No confirmation of appointment has been issued. Currently the old team and CEO (with no incentive to perform) are still in charge.

As you said "Lots to learn, fella"

Which they would have done if an agreement was reachable. How many weeks has the ASX been in suspension, now? How many times has the suspension been extended?

If the existing lenders were keen to deal (and 'want return and not assets'), then a deal would have been done right at the start of this emergency fund raise. The deal hasn't been done throughout this time = serious problems.

An, yes - they will take the assets to other well managed operations (Australian Potash, say) and put together a package for then to take it forward with a management that can and will produce returns.

If Funding lands, how on earth will it bag anything? How massive will the dilution be? Or, how big the cost (they already pay 9% and 12%, with all the collateral pledged). Capital repayments due from the end of March, so the 'old' finance packages need to be re-negotiated.

It is highly likely that this will go into administration with the existing lenders taking all the Lake Way infrastructure and machinery leaving nothing for shareholders.

Be very careful and suspicious of those claiming this will 10 bag in days. You are being played.

Thanks Paddy, great Sunday reading material.

Oh, poor you! It must be terrible to have your post removed. Of course you should tell us all about what a good chap you really are, even though your highly important personal crisis knocks down to very interesting post with actual data and useful information.

I am so sorry you have been inconvenienced by LSE.

More likely a pump and dump operation. Something you are part of perhaps?

@Yuri, there are no assets at all. If you go back through all the funding information, the corporate funders keep the Lake Way processing plant and infrastructure. That was part of the deal.

So if this goes tits up, and the loan facilities default, there is no asset left to sell. Zero, Zip, Sod all, Not a sausage, Nothing.
Those pushing this as an underpriced opportunity have their own agenda and don't give two hoot for those that are daft enough to buy in on just hope.

Honestly, guys, wait until the funding deal is sorted and we all know where we stand. You could end up with your share of the chairman's company car - that is all that will be left.

I guess you could make a case for it (climate protection etc.). It won't make me want to go and glue my hands to the M25, though.

yup - dangerous territory here. Something is happening - but without any more information about the capital raise, I am still highly sceptical!

Personally a rapid dump on Monday wouldn't surprise me at all.

Oh No!

Don't post any real news.

You may be told you have your knickers in a twist and should believe more in a tenuous (at best) random Twitter thread.

But, hey - each to his own. I guess.

It's all a bit of a tenuous leap!

GSK making us wide hiring around the respiratory arena - normal part of their planned strategy methinks.

If this is being done in expectation of wining a bidding war after a takeover battle,then that would be one of the all time 'Ratner' moments in Pharma history if they failed to win the takeover battle (or had to pay way too much to justify their actions).

Na - 'tis pure speculation in my book.

So, lets see? A twitter thread on speculation re GSK's operations in the US along with a tenuous link to SNG gets your juices flowing?

An official paper released on ACTIV-2 protocols which heavily implicate that SNG is/has moved to a P3 stage is me 'getting my knickers in a twist'.

Well b****r me! Maybe I should keep all my investment decisions to random posts on Twitter, then.

Kickers untwisted.

..... and yesterday's thread was all about the ACTIV-2 protocol release....

So, this is not 'news'?

You really need to understand a little bit more about how the various ways to fund the cash requirements for a growing company....

Using finance as opposed to stock dilution is hugely beneficial when done correctly (there is a massive corporate bond market out there too). So if you can make a return of 16% on capital, and can borrow it at less, then the balance all goes to shareholder's profit at no cost to them.

The magic of having an experienced finance man leading the team.

Er.... What 'lack of' news?

Have a read of yesterday's threads, there is a 56 post one on the release of the ACTIVE protocol. That's news.

Oversold on what basis?
No news of the (latest) capital raise, I've lost count of how many extensions to the ASX listing pause there have been and we still don't even know how big the hole is!

How much dilution? Anybody's guess.

Don't forget, from previous capital raises (at 9% and 12%, this one at !"%) capital repayments start on March 31st, so they have to achieve positive cashflow from production by then or renegotiate those terms as well. On the known information the BOD have a very difficult task; you , I and all other investors (ignore the traders trying to force a rise) have to decide if the BOD is up to the task. Remember that the new CEO is NOT there yet and his appointment is contingent on ASX listing no longer being paused. If the existing team can't pull a rabbit out of the hat, there will be very little left for creditors (Check back on the financing, the money people get Lake Way and infrastructure that is there. 2p is way over values in full context and full 'risk' factor applied.

Ssssh, don't tell everyone.

I still need some more time to build on my holding here.