Another positive announcement following on from the recent resource update.
Certainly has an impressive CV so fingers crossed.
Bring on the revised LOMP ......................
The usual antagonists have had their say, I do understand that it will be some time before they can see positives in announcements rather than jumping at shadows, looking for content that isn't there.
@invertedva there is nothing different (terms) in the incentive schemes, they have been and are available to all KMPs
@Gwaihir - not sure how you can deem Lowe took over from Gordon at Intrepid, and if they are old mates either (other than the usual industry acquaintances) Gordon left Intrepid during turbulent times and Lowe was appointed some 4 months later.
As for the clause re: funding
According to all the pessimists we should have run out of funds by now, considering (according to the said pessimists) we only had funding to last a quarter.
~ IMO (IN MY OPINION) we don't quite need the amount of funding we all first thought, and just maybe (as per my previous posts) we are closer to being positive operational cash flow and larger amounts of funding is not required until we restart the capital works?
~ maybe at the release of the LOMP, the operational update, plant performance and gold production a credit raise to current holders?
@siberiancactus you are on the money, the Company can only offer one SPP to shareholders in any 12 month rolling period, with the last being November 2021, what isn't clear if the 12 month period starts from the closing date or the settlement date when shares start trading?
~ currently the company can only raise up to 15% capacity of SOI (there was no additional 10% capacity added) without share holder approval.
@Clymene your post:
https://hotcopper.com.au/threads/general-discussion.6308522/page-7658?post_id=63777802re: "
Just remember - to do any sort of capital raise they need to do a full prospectus because they have fallen foul of corporate law ( suspended for more than 5 days in last 12 months)"
~ this has been discussed previously, but, ASIC have provisions for relief under Regulatory Guide 125 - Instrument 2019/547 that ASX listed companies can offer shares to existing holders under a Share Purchase Plan without a prospectus. Using ASIC's exemption powers under s741(1) and 102F(1)(a) to give conditional relief from Ch 6D and Pt 7.9 to ASX listed companies.
~ RG (Regulatory Guide) 125.8 has the list of conditions applicable, RG 125.9, RG125.10, RG125.11, RG125.12 & RG125.13 provide the rationale for providing the relief. Regulatory Guide Section B covers all the conditions of satisfying relief.
~ Firefinch will have to apply for an exemption and as they are already in suspension will be reviewed at a higher level of scrutiny and will need to satisfy RG125.32
re: review of operations in the (overdue) half year financial report -- waiting on a reply email as to where is it!!
~ you may be disappointed, there will not to much added information (IMO) other than what has already been announced as this report if for period ending 30th June 2022cheers
