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Ann: Investment Agreement Update, page-55

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nashezz

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01/05/19

08:58

Post #: 38344156
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Originally posted by mowibble ↑

Ivan the proposed transaction must presumably compensate in some way for the increased interest. I dont know why, but the ASX was happy for them to disclose the proposed interest rate but not the proposed equity injection.

Alara haven't really helped themselves much here, historically releasing half baked announcements that have been subject to change over time etc, but it does sound like the ASX are compounding the problem a bit. Alara should not have gone with a TH on a half cut deal, but likewise the Asx shouldn't have let them release ANY details in the update. Just mentioning the increased interest made it sound to me like SAMA are being difficult, but the reality as I understand it is that they want better exposure to the bigger picture and offering an added Equity investment allows Alara to spend in other areas of diversification (presumably exploration or acquisition?)

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Exactly - until we know detail of the equity investment (especially what price) it is hard to say whether the finance update is good, bad or neutral. If they pay overs it will compensate for the increased interest, and as you say, the equity investment allows more funds to be diverted to other, presumably expansion activities.

AUQ Price at posting: 2.5¢ Sentiment: Hold Disclosure: Held
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