I've already posted on this subject - I was worried enough to pull out my investment ( I bought in after the CaF2 announcement and sales vid) a couple of weeks before the report was due, in no small part to GW becoming very mixed with his increasingly 'excitable' and often irrelevant to the market messaging.- communication is great, but Grant has tweeted some very weird stuff.
Final straw was only $200,000 in the bank, and even with Guy on the board, Tivan couldn't get financing in time to avoid suspension from the ASX.
The biggest of big red flags for the market.
Financing was finally secured - but it's a terrible type - $$ for shares at a flexible exchange (dependent on SP at the time) - also known as Death Spiral Financing.
Bottom line is - unless Tivan get a binding off-take for Fluorite and GW can build the mine for $150,000,000 and then get secure guaranteed funding from an insto or partnership to replace the current funding - then there is massive uncertainty going forward.
Once the last draw-down is completed, KRR are still owed $4,000,000, no projects have progressed, and financing becomes very very difficult.
I have no idea why GW isn't concentrating on Speewah and the Fluorite exclusively.
It's easy to process after mining and GW has said he can get the whole plant / mine built for $150,000,000 with 2nd hand equipment (looking decidedly iffy now) and be mining in 2025.
Trouble is - no permits, no Native Title, no funding, no offtake agreements.
Get that sorted, and I'm back in. Six Figures.
So will hundreds of others I'd say.
The CaF2 is brilliant - high per KG price, world-wide demand and cheap extraction / processing costs.
But nothing is happening - the ERD hasn't even been mentioned - so at this stage - and here's the market's fears I'd say - Tivan is running low on $$ again soon, financing is lender friendly, not SH friendly, and KRR is till a big ol' debt.
The market is wondering where Tivan will get funds from to operate in 2025.
As am I.
I'd hope GW has something lined up - but the previous suspension doesn't fill me with optimism tbh.
At this stage, I'm actually wondering if GW is hoping for a grant (NAIF / Critical Minerals) and then angling for a partial takeover / joint venture to mine Fluorite.
Forget the stupid Vanadium that's a world-wide bust as our friends at AVL are seeing whilst they lose their shirts - Qld has won that race.
Fluorite and Lead. CaF2 first, pay off mine and start Lead. No brainer.
The fact that neither seem to be progressing is a major concern.
Oh - and pretending the Silver 'discovery' was globally significant or what ever he said, was dumb. The market laughed and deservedly so.
Bottom line, Tivan looks in a fair bit of strife, and the vultures are circling.
IMHO DYOR 2c
(These are valid concerns - I held once, and want to invest again, so this isn't a downramp guys ok?)
(20min delay)