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23/08/21

12:16

Post #: 55495758
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Originally posted by 13th: ↑

Same corporate advisers as the last raise - Canaccord Genuity (Australia) Limited acted as Lead Manager to the Placement and Everblu Capital Pty Ltd acted as Co-Manager.

Shareholders need to be asking management and the Board that with all the pending good news / de-risking events on the short term horizon and with $6mil in the bank, what is the justification for going back to capital markets prior to these milestones being delivered?

If it was needed to strengthen the balance sheet to enable capex funding to be completed, then they should be informing shareholders of this.

Funds to be used for general needs to advance the Maricuga asset and to advance the WA assets...
The company has spent two fifths of bugger all on the WA assets since IPO, something of which is a little concerning IMO as this is what the IPO / prospectus funds were raised for. I appreciate that the south American assets are the main prize, but shareholders have been sold down the river in respect to the company genuinely looking to maximize the value of its hard rock assets.

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how do you ask someone a question when they don’t respond to your email?

my prediction: all pending good news and derisking event are going to fall over (except for the none material news JORC & DFS) in the coming months and this company will be back to hybernation mode as now they have secured enough funding to pay salary for the next few years.

LPI Price at posting: 27.5¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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