Agree wholeheartedly with those sentiments concerning Ian C. Ian has his hands full at present with his commitments to ALK and the three prong focus of contributing to running Tomingley , the Tomingley extension planning and exploration programme , and of course the Boda exploration . That said ..IC';s technical expertise on Toongi and the chemical operation of the KMP is /was invaluable ...and whilst he can still be called upon to offer "technical advice" , it doesn't carry the same weight ( or responsibility) of having an active Director's role . Sorely missing !!! What continues to irk me , with the likes to todays'Announcement , is the lack of detail . Surely , the Bell Potter people would have more specific details to convey to the Placees , of exactly how it is expected the $30 M will be split/contributed to the four "focuses" given ( see below ) ....and , if the $10 M sought in the SPP is raised , further allocated pro rata accordingly .!!!! Shareholders are entitled to know ..and the ASX should ask ( not that they will !!!) . Exactly where is the bang for the buck , going ! Whats going into securing raw materials for the KMP , versus whats going into early work on roads/ bridges/ railway at Toongi ...just Consutants 'fees ??? I know Ian C is a very good Director and a stickler ( internally ) for detail ...and I suspect if he was still on the Board , some of these details would have been fleshed out and made publicly available in theis Announcement . Substance V Form ...given clarity , something shareholders should not only be entitled to , but expect ! AIMHO Edit Use of Proceeds Funds raised from the Capital Raising, together with existing cash and sources of liquidity, will be used to accelerate development of ASM’s Korean Metals Plant (KMP) and its Dubbo Project, with proceeds being applied as follows: • secure KMP feedstock inventory to support metals production, and in turn assist with near term customer acquisition; • accelerate offtake marketing and strategic partner discussions in relation to funding the Dubbo Project; • commence early works on road, bridge and rail infrastructure that are important for site access; and • manage corporate costs, general working capital and costs associated with the Capital Raising.
ASM Price at posting:
$1.78 Sentiment: Buy Disclosure: Held
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