DAV has announced they are looking for a strategic partner and just placed shares at a 20 per cent premium (not discount )to provide additional funding while they complete discussions. KLL is suspended and clearly has to raise additional equity at a massive discount.Completing a feasibility study is one thing but building and delivering the mine in remote Western Australia on a salt lake is quite another. Why has SO4 had to desperately raise additional equity again at a discount.Why have the conditions precedent required by the bankers to draw down the project finance not been forthcoming?Is the projected price of $US600a tonne for SOP product (If they can make it to specification) realistic or fantasy ?Have any of the directors or management ever been involved in the successful production of SOP. And finally :Is it better to have a high market capitalisation and unfunded dreams where the bank owns the company if management continues to fail or a low capitalisation with no debt funded by a third party?
SO4 Price at posting:
40.5¢ Sentiment: Sell Disclosure: Not Held
