A few last points as I relax on this Xmas eve .......
I follow Altech closely and I can't recall where Iggy is quoted as saying financial close will be in 6 months' time.
He would never commit to that.
The CR was $2m short but they just received $415k for the initial payment for the 25% sale of AIG. ~$9.7m is available from Acuity Capital that they can tap when required and they have very supportive major shareholders.
If they need to raise again or tap Acuity then so be it.
You keep pushing an SMI conspiracy, that SMI 'pulled the pin'. That is a false statement. Altech terminated the agreement period. SMI still holds shares and is considered a well known friendly. The SMI agreement got them through the peak Covid period and served its purpose very well.
Move on nothing to see.
Altech has been a binary stock for a while now. Binary in the sense either they are ultimately successful in obtaining full finance or not and the company goes under. Good news announcements along the journey have little effect on the SP - ATM, but the market remembers............
The past two years of finance delay have seen many holders sell or reduce their holdings, but at the same time, much has been accomplished.
I have written about this before, potential new investors in HPA (those that you would like to put their money in FYI), may see Altech is in the most advanced position it has ever been in and years ahead of FYI and A4N but only relevant
IF finance can be closed. These new investors don't carry 'time' baggage and are not sitting on losses.
When participating in the recent CR I looked at Altech through the eyes of a new investor and based on my knowledge of the company. IMO FYI and A4N were overpriced and Altech a superior risk-reward at 4c. That wasn't the case in March when I bought 200k of A4N at ~12c and sold in October at 25c.
My new investment in Altech stands on its own and looks to the future. I don't believe in the dumb concept (IMO) of averaging down.
You fear Altech with good reason. If Iggy does close finance, then the company's advanced project status will be fully reflected in its SP.
If an announcement came out in January that Daimler took the 49% stake in the project along with a far cheaper secondary loan, what do you think the SP will do? It will be back up to >20c in a heartbeat. Weak handed FYI and A4N holders will quickly jump ship. Investors like a winner.
Alternatively, if Altech is ultimately unsuccessful and the company calls in the receivers that will send shockwaves through the HPA market making it far more difficult for FYI and A4N to obtain finance and a sudden risk shock priced into their SPs.
And lastly Tcb007,
'Given their track record, it's highly unlikely financial close will be attained' - r
emember, past performance is not indicative of future results.
Merry Christmas all. Back again in hopefully a much happier and prosperous new year.
