Ann: Magnis Raises A$4m in Placement, page-92

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retired2021

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14/10/15

22:10

Post #: 16178220
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Originally posted by cobra327 ↑

Happy to share my thoughts Uni....although they don't usually go down too well on here.

I share your thinking re: supply and demand. There seem to be an awful lot of ASX listed graphite companies and although a lot of the smaller ones are only talking small tonnage, it certainly concerns me that the main players are talking production figures way in excess of current/forecast demand.
Therefore, it is vital IMO to be first or even second mover. SYR have raised the capex so they have to be the front runner even if they don't have huge offtakes......yet.

This is why I have expressed concern regarding the delay with the Sinoma finance, after all, it seems to me as though all conditions have been met. Having said that, they have only missed the deadline by 2 weeks and taking into account their previous record for making deadlines it's only fair to give them the benefit if the doubt .................at this stage.

As far as details of the finance deal..... Other than the conditions of all govt approvals and Magnis' 10%, the only other detail I recall is words to the effect of attractive interest rates.

The question has been raised about "binding" finance on both sides. Personally, I am not convinced it is binding. Just like I am not convinced the offtakes are "binding".
I still don't understand why Magnis' priority would be more offtake/s when they have "binding" offtakes for 90% of total capacity already.
I would have thought the number one priority would be to lock in the finance and begin construction.

We have all read about excessive offtakes (hundreds of thousand of tons per year) and the doubt expressed by some commentators about the validity of these numbers. It's hard to completely disregard these comments. I will admit, I get a little nervous.

Looking at other offtakes with "household names"??????? Why FFS?????

If you know 100% that you have buyers for 180kt/year (at market value prices) and can get US$150M by coming up with A$20M, to build the plant, wouldn't you be acting on this as fast as humanly possible????

But no, we might go looking for more offtake partners....hard not to conclude that the existing agreements are "binding"

Just IMO and still holding for now.

Expand

Apologies, the last bit should read. "Hard not to conclude that the existing agreements are NOT "binding".

IMO of course

MNS Price at posting: 40.5¢ Sentiment: Hold Disclosure: Held
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Ann: Magnis Raises A$4m in Placement, page-92

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Ann: Magnis Raises A$4m in Placement, page-92

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