I'll weigh in on a few childish discussions which IMV can be put to bed.
1) CR prior to FID. If you recall this was posed as a question directly to the management team. Specifically, they had suggested that post FID if there was counter-bids or complications with the deal it can drag out. What do i mean? If they hadn't raised capital and this drags out 6months or more we'd be essentially bone dry in capital. Think of the other company deliberately screwing you around knowing you don't have cash to operate whilst maybe dealing with counter bids.
Hindsight a perfect science, if everything runs smoothly and this is signed sealed delivered then yes i agree the CR wasn't needed but it was still a good contingency. if it doesn't/didn't go smoothly and they're out of cash we'd be pitchforking outside the office asking why they let the cash run dry. I have had several company i've been invested in assume they would have finance locked in only to be screwed around finalising the deal. There's actually still quite a few conditions precedent.
2) Cash retained post FID. What utter nonsense about lifestyle company. From exploration to proving the 7th largest hard-rock lithium project in the world and bringing it all the way to finance in Zimbabwe. Do people actually know the success rate of exploration to mine. It's about 4%. Profitable ones even less. I've given my fair share of criticism to management teams PSC included. I posted on here with the transcript of the emails. There's valid points in that the 50M USD retained may be total cash and thus already include cash in hand. Do people really think they are planning on being a company with 70-80M USD and do nothing for 20 years? Check your pulse. Clearly, IMV and they had already mentioned in company announcements that they were looking for more projects at the time to increase feed into arcadia. They now are in a pretty awesome position to acquire some pretty high profile tenure/project. Not a patch of dirt for 2M with nothing on there. Do people remember the posts of project i found in Zim some quoted to be as large or larger than arcadia? PSC are the experts in the area and now can secure the next arcadia. Makes for an extremely attractive proposition with a built plant at arcadia already running.
Can appreciate some people might not be happy with the deal and that's fine I get it. but a lot of the emotive commentary is probably immaturity in markets as there would only be handfuls of people who have held a stock from exploration to production. Those that have done so probably have had many that end up in administration before or shortly after they hit production. There's still a lot that can go wrong/different post FID and production. That's why companies don't trade at their NPV. If they do generally a poor investment. Did i want more money for the buyout - sure? who didn't but it's been a great investment. people can continue to debate the finance deal payout etc etc which is fine, it varies for individuals but some of the other commentary is IMO emotionally driven non-sense.
If you've got harsh feedback as a shareholder, be an adult and pick up the phone and speak to the company. you might actually make a difference. Running ones mouth on HC like a child throwing toys out the pram does naught to ones personal situation aside from acting a vent mechanism. I've got my criticisms but I've actually spoken to the company about it.
PSC has had one of the better threads on HC in terms of content but it's draining into the typical cesspool of childish diatribe.
Will not be posting further on PSC (unless something new to discuss) so as to resist temptation to be drawn into a non value add conversation. If people want to pick my brain directly you can contact me via twitter.
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57250949 contains some of the sleuthing i done regarding project acquisitions back in Nov. With the cash they're retaining I'm curious if they are going to target Zulu. That would be an awesome acquisition. Will rival arcadia in size IMV exploration target is 120-160mT.
"Been doing some high level sleuthing on some of the REO and other Lithium projects that PSC may have been referring to in the recent raise as potential future development projects and or feedstock for arcadia.https://t.co/ZF1d4fkzzG?amp=1https://t.co/XsJTLFdTj2?amp=1Premier African Mineral has one of each.Zulu is a large scale lithium deposit in Zim."Maiden Mineral Resource Estimate of 20.1 million tonnes of 1.06% Li₂O and 51 ppm Ta₂O₅ using a cutoff grade of 0.5% Li₂O and 7 million tonnes at 1.50% Li₂O using a cut-off grade of 1.1% Li₂O"Has an exploration target 120-160mTKatete REO project.Results from a trenching programme conducted by Premier in 2011 indicate that the highest total rare earth oxide (TREO) value was 14.6% (13.2% cerium and 0.6% lanthanum), with an average of 1.74% TREO. Premier completed a drilling programme of seven drill holes for a total of 1,187 metres. Initial assay results of four drill holes indicated that TREO distribution is consistent with depth and several samples displayed TREO contents > 3 per cent. over varying widths from 1 metre to 4 metres.
Premier believes that the current price for REEs and the continued demand for REE oxides make Katete a particularly promising prospect. Premier is planning to complete initial mineralogical and metallurgical studies followed by the establishment of a code compliant Mineral Resource, justifying the commencement of a preliminary economic study.https://t.co/XG1v73jriC?amp=1 LI3 had some of the tenements back in the day sold to premier africanhttps://t.co/pBrXaM0cyt?amp=1 here's a brief summary of some targets in Zim.Another project is the Kamaviti Lithium Tailings Project is currently in bankable phase, and the Odzi West Lithium Project, in grassroots phase, has confirmed the presence of spodumene in one area and petalite in another.Rainbow rare earths the other one i'm digging. They secured 10 licences for REO project recall there was a few in Zim. I know that prospect was in some capacity aware/discussion with them previously. I think at a very high level for supporting inputs into the chishanya exploration work.It was mentioned months ago that the geologist who was "speaking the same language" i was about it thought there was some other even more prosperous areas.Something left field in either the rare earth or lith space would be a really nice injection. Irrespectively, Friday is the share issuance day and expect there to be some nice volume churn.The people who were issued shares in the placement will need liquidity with 50M shares if any want to make their 20% scalp.Those who wanted more, or didn't get in will also need liquidity so as to secure positions without pushing the price too high too fast and allowing to much to be unloaded.So expect there will be decent liquidity in November and perhaps a push into the OFS and outcome of project financing. Expect the 2.4mpta direct OFS will be around start of December or late Nov, from what timeline I can recall through conversation.Some very good movement in the sector of late, bodes even better from a peer comparison perspective on PSC. Big boys waiting for the share to be issued before moving PSC in the same direction?"SF2TH
(20min delay)
