Funny, that's how I see you - and Merchant in particular. Focused on nothing but any negatives while completely ignoring the upside potential.
Despite the delays to date, the major ones being Covid and Russian invasion of Ukraine related, and the inevitable and unavoidable capital raisings that every small cap needs in order to discover, develop and construct a resource like this, Minbos has so much upside potential from its current fully diluted market cap relative to its expected cashflows. Cashflows that are now getting very close, not 3 to 7 yrars away like many other resource explorers and developers. All Merchant wants to discuss is dilution. He can post about that on every ASX explorer/developer and probably 95-98% of all ASX stocks. For some reason he choses to focus his negative opinions on this company which ironically faces far less dilution to get to production than most other small caps. Then you two tell me I have an agenda. At least I consider and weigh up both the positives and negatives. I was allowing for up to $18mill further dilution in my calculations. I was allowing for that as a possibility just after the IDC loan was first announced in case the company couldn't get any more non dilutive funding beyond that IDC loan. I was and still am expecting that more non dilutive funding will be arranged but allowed for a cr anyway. When gas and fertiliser prices were going through the roof a couple of years ago, I was posting about that being an unsustainable bubble and I was using long term price trends in my calculations of potential future cash flows and sp targets instead of the prevailing buble prices at the time. The pair of you accuse me of having an agenda and ramping. That's the real joke and a big one at that. I have no agenda. I post it as I see it. The FULL picture, not the bull case scenario and not just the negatives like you two. You two have your blinkers on. Focussed on a capital raising and delays to date while completely ignoring the big picture. Merchant and a few others don't want to even acknowledge the green ammonia project while Stamicarbon considers it to be the best green ammonia project globally and other large companies are showing strong interest. Whose opinion should we value there? Merchant talks about $50mill needed to get into production. Wow. Maybe he should go onto the NRZ thread and warn investors there about the more than $2 billion capex needs for that project. $50mill on a project with over $300mill NPV is not a negative like Merchant makes it out to be and much of that has already been paid with major plant components paid for, fabricated and and delivered as well as the US$14mill term sheet from the IDC and cash coming in from the current cr. I also use the fully diluted mc - that is diluted for outstanding options. The exercise of those options will also bring in some more cash.
This company will grow and grow strongly. There have been speed humps and the inevitable dilution along the way but that hasn't stopped the progress to date and the company is clearly getting very close to first production now. Many of us will be looking back in a year or two and be very glad we stuck with this investment. Others will regret not buying now that so many milestones have been reached and the diluted market cap is still very low relative to expected earnings and growth. Essay post again, as Merchant calls it but that's because I don't have blinkers on and I see and discuss the big picture. There is plenty to discuss and a lot to like. You two can focuss on the cr and miss the opportunity. Or are you two still here because you are planning on buying and its actually you guys that have an agenda with your 100% negatively biased posts? Its funny how most here have always acknowledged and accepted the risks while the downrampers rarely, if at all acknowledge or accept the upside. Who is really doing the ramping?
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