allegiance mining, page-4

Baphomet

Good Post

I am sure that you will get a good rise when the announcement regarding mine approval is released, hence your strategy will work to a tee.

Personally I would sell enough of your stake to repay yourself and let the rest ride the market.

Judging by the big volumes and price rise at present an announcement seems about to happen - most likely the approval.

I am pretty sure that the money is there for the project - very sure. It is just a matter of how to raise the bucks. I know that financiers are prepared to offer loan capital and smelter owners are prepared to put in to get a guaranteed supply in these times of high Ni prices but the favoured route is to go for some equity / debt mix as it is a safer route in advance of offtake agreements being put in place.

AGM doesn't need to sell the project off to any third party to get things going, there is a desire to keep things amongst current stakeholders. Sure there will be some dilution but at least current holders will get a chance to maintain their holdings if they wish. Remember we are only talking about $6mill to get things running.

The conversion of options to 6c partly paid was knocked back by the ASX despite a vote at the AGM AGM. In hindsight 6c was way to cheap but I do have some sympathy with directors as they can only go on the share price at the time and I think when the prospectus was submitted the price was 4.2c.

Happy Trading

Chin Kiat