Originally posted by Robert64
Yatchy or anyone else who went to the AGM sorry to hassle you but I live on the east coast so I couldn't make it.
Not the outcome I was hoping for and not the same vibe as from Mr Bond's chat with JD earlier in the week.
Did they reveal who the 'international financier & 2 banks' are and at what stage the discussions are?
How confident was JD of finance within 6 months?
If Glencore bails, what happens to the offtake agreement?
What was the reason the Chinese could not reach an agreement after they did their own feasibility study?
Life of mine NPAT US$1.8b and no one wants a bar of it??? Numbers must be wrong.
Glencore's first-half core profits of $8.3 billion makes the Capital cost (US$500+) not that big a deal.
What is wrong with this picture? Seems like the Greenland Gov is our last remaining friend.
Maybe they should chip in to get this started, it's in their interest in the long run.
Far out. 2.8c here we come.
Robert64, i was at the AGM and to answer yours and other peoples questions, the financiers were not revealed, it is all under confidentiality agreements & there is more than one path they are pursuing, partnership came up but no names.
no guarantees were made as to a due date or final decisions as JD mentioned at the start, nothing is certain unless there is something in writing.
the Chinese are still in the mix, some of the issues with them are their mining rules being different to ours - a matter of alignment, they are still involved but parallel scenarios are also in the mix, which were not disclosed
A reason for setbacks in financing is the low market cap causing concerns for the bankers, they are working through all this. The capital raise was kept low to keep dilution to a minimum but to keep bank balances up so they are not in a desperate position while negotiating.
with the zinc levels dropping and the price slowly increasing, a zinc and share price rally was anticipated, this would have helped with the capital raise but lack of interest in the market did not help.
this is what I took away from the AGM, DYOR
