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3.2¢ morella corporation limited

Ann: Altura Completes October Shipments of Lithium Concentrate, page-113

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Stuman1

964 Posts.

177

02/11/19

12:52

Post #: 41215561
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Originally posted by Thesi: ↑

Ok, thanks.

And why is it that you won't be taking part in the capital raising at 6 cents.

Is it because it is so obvious that it's not worthwhile when the share price is 5.7 cents?

If the capital raising fails there is no certainty as to where the company goes next as indicated in the offer document.

It is envisaged that the Company’s current funding requirements will be met by a combination of sources including existing cash reserves, cashflow from Stage 1 operations and the proceeds of this Entitlement Offer.

in August 2019 the Group successfully raise A$22.4 million via an equity placement

in February and March 2019, the Group successfully raise A$38.7 million via an equity placement and securities purchase plan

The company has continued to raise funding diluting share holders. Yet this latest capital raising looks like it has fallen flat on its face getting off the blocks.

Are you here to invest in lithium, or a company that continues to dilute your holding and is reliant on these raisings every quarter or so to keep the company afloat.

Even in their offer document as shown above the company spells out that it desperately needs this capital raising to go through to maintain funding requirements.

But it doesn't say what happens if they don't achieve it... Actually it does but it is more focussed on the senior loan refinancing and not what occurs if it cannot complete this capital raising or any further by August.

Notwithstanding the position outlined above, if production and sales cannot be achieved at forecast levels, and the loan facility cannot be successfully refinanced by the due date, there is a material uncertainty as to whether the Group will be able to continue as a going concern and, therefore, whether it will realise its assets and extinguish its liabilities in the normal course of business at the amount stated in the financial statements. No adjustments have been made relating to the recoverability and classification of recorded asset amounts or to the amounts and classification of liabilities that might be necessary should the Group not continue as a going concern.”

As I said before, everyone loved the Titanic until they drowned.

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are you here with your tugboat to save the remaining titanic survivors?

AJM Price at posting: 5.7¢ Sentiment: None Disclosure: Held
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Last 3.2¢		Change 0.001(3.23%)		Mkt cap ! $8.922M

Open	High	Low	Value	Volume
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Ann: Altura Completes October Shipments of Lithium Concentrate, page-113

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