A few observations re the Dear Investor letter.I assume this was...

A few observations re the Dear Investor letter.

I assume this was sent to the original placement participants, I’d like to think when they update the asx (and us) before relisting we get a bit more colour as to what happened.

“..During this time,partnership opportunities were presented to the Board to which the Board felt prudent to explore,”

Note “opportunities” is plural, so they’re saying they had more than 1 “partnership opportunities” presented. Seems strange to me that 2 or more opportunities would present themselves at the same time and right on the closing of the Placement.

Later the letter goes on to say:

“The Company also remains engaged in advanced discussions with a number of strategic investors interested in both the Cabinda Phosphate and Green Ammonia Projects. “

My take on that is it’s reasonable to assume these strategic investors include the first mentioned “partnership opportunities”, otherwise how many interested parties have they got? - I assume not too many if they raise at 7c + a free option.

These investors must have realised we needed cash to start construction & that the growing season was fast approaching. Why else would they wait to just when the original placement was closing to lob a proposal. After 7 weeks leading to nothing we have missed the growing season, though I think we probably would have struggled anyway. Wonder if they knew that? because it certainly has put us in a weaker position. I wouldn’t be surprised if they come back with a watered down proposal.

We seem to get more accurate information here on HC than from the company. Whether it be the original terms of the placement or the revised terms or even the letter above I’m referring to. Previously we’ve had quite a few comments here on HC about these investors possibly being FMG and/or OCP of Morocco. Most of the other information has been accurate so why wouldn’t this be?

As others have posted these 2 companies have just announced a partnership for Green Ammonia & fertilisers https://fortescue.com/news-and-media/news

Is that just a coincidence? or have we been played? or are they just trying to get us at our weakest?

At 7 cents our market cap isn’t very much, Shanghai Jason are either cash strapped or pissed at us, lob a 12c takeover bid and one of the above companies would probably take us out. Why share a GA project with us when you can own the whole thing.