I'm waiting for my thanks for teaching you how to read an ASX quarterly. Took me 30 minutes to put all that together for you. Happy for you to thank me later though Daz, up to you.
On finance, remember this:
ABR is not about to raise any time soon, they need to finalise the updated DFS before they can do that.
ABR has stated that the early works it's doing now is to reduce capex, and therefore funding. It has also stated that it is aiming for a more profitable early phase.
ABR has over AUD$50m in the bank now. It needs USD$200m at the low end, USD$250m at the high end to complete the revised Stage One (phases 1a-1c). That's without any capex reduction from optimisation/value engineering.
ABR has numerous funding options available to it, and you would expect there to be a combination of these options rather than a single one, e.g equity raise plus finance. It's done this before, raising $70m with ease.
It's complete BS to argue that it's the norm for a 50% deposit. I'm not even going to do your own research for you to point this out any further.
Banks aren't the only finance option, there are plenty of other entities that finance the early phase of resource projects. Yes they are more expensive but often they will take equity as a deposit (which is effectively netted off the debt when paid) and finance the rest.
With a US listing, ABR arguably opens up significantly more funding options than it has now.
Fort Cady has already worked as an operating mine. If you argue that ABR can't raise $200m because of 'risk' against this fact, then you may as well argue that all resource projects are cooked.
Stage 2 is a long way out, so it's pointless to argue or speculate on what they will need four years from now given earnings potential prior to that, potential changes to interest rates, plague, famine, war, alien invasion or anything else that could happen. That applies both to the bull and bear case.
But Daz, it's a shocker that you argue that ABR won't secure finance. And if you say you haven't made that claim, I'll pound you with screen shots to prove you have. This is where you pivot as I keep pointing out. You throw out anything you can then backpedal, then shift sideways, then go missing.
I'm not a cheer squad, I'm happy to hear a bear case any day, there are always reasonable negatives to find in any company, and plenty of unreasonable positives to blindly follow and fall into a trap. For the record, I have a bigger problem with blind bulls than dumb bears.
What was that veiled promise you made last week, something along the lines of you were going to camp on this thread and keep at us 'clowns' or something like that? Can't recall, I felt it was a bit insulting. Anyway, I'm not that active of HC as it is. It's people like you that bring me back. I'm going to stick around here and enjoy myself for as long as you're here Daz.
ABR Price at posting:
$1.42 Sentiment: Buy Disclosure: Held
