The matter of a CR keeps being raised time and time again and I suppose that will be the case until the money is raised and the plant that is required for production has been purchased and has been delivered to site, assembled, commissioned and production commenced.
From what I have read in the Non-binding HOA signed with Traxys and announced 21 Nov 2023, some of these questions have already been answered : * The parties will jointly investigate and explore various financing options (for both equity and debt) that can assist Andromeda. * Direct sales of Great White CRM. Targeting the first shipment during Q1 2025 * Direct sales of Great White HRM. Targeting the first shipment during Q1 2025 * Potential equity and debt arrangements. i) Participation in funding raises to support Andromeda in the period until the FID is made. ii) Contribution towards funding requirements following FID being made , including potentially as a cornerstone equity investment or the via the provision of working capital facilities.
From the Chairmans Address 2023 AGM. "Access to Traxys' deep network of trading and financing relationships in industrial minerals, has the potential to assist Andromeda in securing further binding offtake commitments, debt and trade financing, and cornerstone equity participation."
From Andromedas CEO/MD. "The strong economics of the recently released 2023 DFS for The Great White Project heightened interest in discussions from potential cornerstone partners. Traxys offers the prospect of an ideal strategic partner, one in whom we can trust, and one that shares our commitment to meeting the increasing global need for superior industrial minerals."
and finally....
From Mark Kristof, CEO of Traxys. "We are excited about the opportunity a strategic partnership represents for Traxys, Andromeda and global kaolin markets. Our Industrial Minerals group has been involved in similar commodities on a global basis for over 20 years. This agreement supports us in deploying that capability into facilitating the planned development of The Great White Project and bringing its premium products to global markets. The established market is currently valued at over $4billion of sales per annum, which we expect to grow rapidly as demand for kaolin continues to rise while sources of high quality kaolin are increasingly being depleted."
and finally, finally...
From MDs AGM presentation. Next Steps HI 2024: * Traxys. Progressing discussions towards binding agreements for offtake commitments and financing arrangements, including potential cornerstone equity investment. *Financing. Working towards blinding offtake agreements to lock in revenue that optimises the debt and equity funding mix.
Summary as I see it.... finance sorted Q1 2024 and first shipment Q1 2025.
Only time will tell.
kippax
ADN Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
(20min delay)