Hi Rhys.
1) I will
not put the money argument ‘to bed’.
TMT came within $100,000 - or by its own estimate within one week - of needing to issue an explanation of how it was going to continue as a public company.
This is a hard fact. It’s there in the March financial report in black and white for anyone to read!
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2) You infer it was easily able to obtain more capital via the ‘usual avenues’?
Which avenues Rhys?
Which financiers besides RCF have
ever stepped up to the plate besides RCF and patient shareholders?
As I see it Ian has been treading the boards of the junior miners conference circuit for years trying to promote the excellence of the deposit but at this late stage what was out there?
The fact is TMT required SIGNIFICANT capital investment to move forward as per the statement made by the CFO at a public conference just two weeks before the merger was announced!
12/09/23 by CFO Elisha Civil
[as no silver bullet ].
“we’re just about at the end of this ITE process..”
… the “ review will be a really big milestone that will allow the next level conversations.
We can all understand this is a difficult market in which to attract capital investment particularly the significant levels of capital investment required (to set up a mine)
.. I’m not sure that there’s a silver bullet for it…… But maybe there’s a vanadium bullet?”
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Finally:
3) I honestly think it’s a bit of a loose straw to clutch at that Victorian Herald Sun analyst’s sentence as a solid rationale for people to invest in TMT as a go it alone project!
Here it is again;
[ref]24/09/23; Technology Metals Australia (TMT) … BUY;
Major milestones at the Murchison Technology Metals Project are approaching as the company continues to progress Australia's next pure vanadium mine.
That was the view of
[Mark Goulopolous of Cumulus Wealth]one day before the merger was announced !
Did he have an inkling of the next day’s ‘major milestone’ news?
cheers
PS:
Please be clear about what I have actually written Rhys!
The ‘
sabine is a villain with no understanding ‘ narrative is fine with me
IF it’s accompanied by clear facts to develop my understanding and rebut my comments and links.
But the emotive ding dong stuff is unhelpful.
I never wrote TMT would fall over due to lack of capital!
However I have written that the kind of capital that is out there may not have been helpful in the long run.
I have also cited the plight of the Altura lithium project as an example of a company falling into the clutches of the ‘wrong’ types of funders.
PPS: And yes! The story was there - clearly in the chart - for any proficient technical analyst to read!
