Hi guys, as Management move to close out the final funding from debt these are a couple of extra pointers of play…The question has already been raised why has Peter Finnimore not reacted and taken shares after the deck was cleared to do so…This brings focus towards maybe this is not the case and the board including Peter Finnimore are in a restricted period due to a more material announcement to come shortly…?
A further point is the iceberg seller has reappeared which to my assumptions this could well be a BMCG making sure they have the best VWAP possible available to them in a material announcements period…
It should be noted they are bound by the original agreement with a 12 cent floor price…You can imagine they would do very well over the next conversion period…
Just really intriguing the mechanism that are required to provide the final funding of US$10 million from practical completion…75% of current funds raised went to existing holders which one could consider as very invested well informed of the fundamentals of the project while realising the poor economics of other projects and the cash raise modelling they have acquired…
More than happy with my investment and looking forward to the dividend potential not far away…Exciting year ahead of us with commissioning and practical completion mid next year giving First mover advantage over unfunded projects that look more and more unlikely…CAPEX to high with low grades combined with break even economics…
Regards Croc (High grades premium product offering US$1200 free cash margins per ton product…)
