General Neometals related news, page-3874

I am not 100% sure your post is correct.

We had a 100% off take for a minimum of 5 years from Glencore.

$400m euro project
$280m debt, $190m euro / 80% of which was underwritten by the Finnish government.

This means we needed to find a partner who was willing to put in $160m euro.

EV adoption is still strong, I did a post on the agy thread about it today, can't be bothered looking it up because I'm on my phone, but I'll post a screen shot of an article.

Buying at 20c, 10c or 5c is not a different story because the company doesn't have funds to finish anything.

When the share price was $2 the market read frothy, the company had money in the bank and there were a number of projects on the go.

3 projects in the last 30 days have effectively been killed for the foreseeable future.

There is no way the company will be able to raise funds to pursue all of these projects, there can only be one, and that is recycling.

Mercedes Benz are the only company, Chris said there was a $15m order book, in his latest paid for promotional video. We don't know the details of that, but let's see what percentage of those orders convert to cash on the bank.

But the main reason this won't get to $2 again anytime soon is because the company is effectively broke, and funds are desperately needed.

This means a raise with massive dilution will happen down at this price, so you can expect another XX million shares on the register that will make it THAT MUCH HARDER to get back to $2

How much is needed? I think it'll have to be last be $30m, but it could be more. What would they be able to achieve with less? Pay themselves for the next 3 years whilst MB refine the recycling prices? They don't deserve that liberty.

Unless they do as fire sale of Barrambie - that's the only thing they really have of any value to sell, but it's a buyer's market right now, so it won't be for top dollar, and the proceeds from the same will only stop the bleeding for so long.

At $0.15c, a $30m raise would result in an extra 200,000,000 shares on the register. One thing I liked was the relatively low 553m shares on issue and 4 attractive projects.

The reality is I now believe Chris has killed this company. His reputation must be in tatters, and he really should be ashamed of the destruction of wealth under his watch.