OK, i don't think your trolling so worth discussing. they are not swimming in cash and everyone has known this for months but the reason being is the last CR was for the minimum amount required as the directors and associates hold so much stock and would be against dilution as much as anyone. It was also before the Rincon deal so that wasn't taken into account.
What we know is at the end of the last quarter they had $750k.
Expenditure for this quarter was $425k = 300 on exploration and 125 on administration
This leaves $325k for the next quarter.
What we know from announcements is they are fully funded to complete stage 1 exploration on the Ekeko deal which was expected to be finished during the next quarter and would result in an inferred JORC resource.
Regarding the Rincon deal they have said "the Company will acquire a 50% shareholding in the JV Entity upon the production of a laboratory scale quantity of lithium carbonate equivalent product or the Company funds the initial stages of a business plan for this purpose as agreed and approved by the Company and the Vendors"
So this is what they are negotiating at the moment. I doubt the lab scale quantity has been produced and i don't think the funding of the initial stages of this would be that much more than what they already have so lets say for arguments sake (and this is a complete guess) they need another 750K.
A CR at 1.8c now would be another 42million shares issued and probably to Molyneux's contacts instead of some perth broker who will dump them ASAP. not the end of the world is it?
but i don't see a CR at these levels. I think seagulls prediction is more likely. Consolidate around 1.8 -1.9 before moving up on news. Then a CR for the minimum amount again. If it drops below 1.8 to test the gap i would like to see Molyneux buy on market to install confidence.
All just speculation and guesswork from me.
The large credit raise will be around next August for the Ekeko deal but no chance the SP is at these levels by then.
Also they will be acquiring more land on Rincon over time so i would expect raises for that but that would also be much further down the line.
AGY Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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