independent valuation of luapula plant, page-317

First 317 Last

Share
Profile

Follow
Shaq_01

5,468 Posts.

832

06/04/19

14:46

Post #: 38025332
Share

Originally posted by ozblue: ↑

@MyDisco2 ...."THE $10M US INCLUDES OWNERS COST OF $5.5M US TO BUY IN - not extra"

No it doesn't!! There is nowhere in the report where Mr Connelly refers to the initial $US5.5M buy into the JV. That IMHO is a totally separate spend, and no-one has been able to quote anything different..

From the IE report
p2 "Assumes $US10M spend to get project up and running".

Also p2 " A budget of $US10M is required to get the project operational which includes refurbishment, first fill, working capital and commissioning."***

*** Nowhere does it mention that the buy-in price for 50% of the plant is included!!!

Until some-one can show some official announcement stating otherwise, I'll stick with what the company has itself stated and is in the IE report..

Firstly WFE need to raise $A10M for the buy-in ($US5.5M) plus the exploration tenements ($US1.2M) total = $US6.7M or converted to $A = $A9.43M.

Secondly a FURTHER spend of $US10M to get the project operational as per IE report.

If what many here say were true, then why do the total funds needed add up to more than the proposed first raise??? ( $US5.5M + $US1.2M +$US2.3M =$US9M = $A12.67M )
Why would the company leave itself short of funds from the raise/prospectus??

Usually the simplest explanation is the best. Last year's announcement about raising $A8M (later changed to $A10M) is mostly the buy-in fee.
The IE report this year clearly states $US10M " to get the project operational which includes refurbishment, first fill, working capital and commissioning" ($A14.67M)

Overall $A10M plus $A14.67M needed. Total = $A24.67M.

Expand

7TH time asking....

Please answer my question

Since you have so much time to right misleading posts ... do everyone a service by answering one question truthfully

a question i have asked you 7 times

Could you be wrong ?

If everyone can be wrong

Can you acknowledge you have the potential to be wrong as well ?

Hopefully i wont have to ask a 8th time

WFE Price at posting: 2.4¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

AHK

Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

SS1

Sun Silver to kick off drilling next week at 292Moz Maverick Springs silver-gold project

World Gold Council says market in want of catalyst; flags Asia sell-off risks. Then there's Trump

There are more pages in this discussion • 105 more messages in this thread...

First 317 Last

Add WFE (ASX) to my watchlist

independent valuation of luapula plant, page-317

Top Stories

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Sun Silver to kick off drilling next week at 292Moz Maverick Springs silver-gold project

World Gold Council says market in want of catalyst; flags Asia sell-off risks. Then there's Trump

Featured News